Tencent sees 19% YoY increase in net profit during 4Q22

MG News | March 23, 2023 at 01:30 PM GMT+05:00

0:00

March 23, 2023 (MLN): Chinese tech giant Tencent has reported a 19% year-on-year increase in net profit for Q4 2022, reaching 29.7 billion yuan ($4.3 billion), alongside a 0.5% YoY rise in revenue to 145bn yuan ($21bn).

While Tencent's total revenues for 2022 declined by 1% to 554.6bn yuan ($81bn), its international games business saw a boost, contributing 33% of the company's games revenue in Q4 2022 compared to 28% in the same period the previous year.

Despite annual earnings declines, Tencent CEO Ma Huateng expressed confidence in the company's focus on core activities and the development of new revenue streams, such as Video Accounts and international games, while also investing in AI capabilities and cloud infrastructure.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	178,853.10 424.99M	3.29% 5702.68
ALLSHR	107,335.86 693.28M	2.85% 2972.30
KSE30	54,676.69 210.97M	3.52% 1860.41
KMI30	250,620.93 139.36M	2.14% 5257.28
KMIALLSHR	68,647.30 398.45M	1.89% 1273.91
BKTi	52,773.10 107.33M	7.09% 3494.44
OGTi	35,032.42 34.95M	0.79% 274.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,850.00	68,570.00 66,910.00	-15.00 -0.02%
BRENT CRUDE	68.19	68.20 67.36	0.77 1.14%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-3.00 -3.03%
ROTTERDAM COAL MONTHLY	105.50	0.00 0.00	-0.10 -0.09%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.95	62.96 62.04	0.69 1.11%
SUGAR #11 WORLD	13.63	13.69 13.47	0.15 1.11%