Profit reached 53.2 billion yuan (US$7.4 billion) in the three months ended September, up from 36.2 billion yuan in the same period a year ago. That exceeded the consensus estimates of 45.3 billion yuan from analysts polled by Bloomberg.
Revenue for the Shenzhen-based firm reached 167.2 billion yuan, up 8 per cent year on year from 154.6 billion. It was in line with analyst estimates of 167.9 billion yuan.
“During the third quarter of 2024, we delivered robust revenue growth in our games business, underpinned by consistent performance of evergreen games globally and contributions from new games with evergreen potential,” said Tencent founder and CEO Pony Ma Huateng.
“We are increasingly seeing tangible benefits of deploying [artificial intelligence (AI)] across our products and operations, including marketing services and cloud, and will continue investing in AI technology, tools and solutions that assist users and partners,” Ma said.
Tencent’s shares closed flat at HK$403.8 on Wednesday ahead of the results. The stock has risen over 36 per cent this year amid a wider rebound in the market since September.
