Business
TENCENT ANNOUNCES 2024 SECOND QUARTER RESULTS
Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), "Tencent" or the "Company"), a world-leading Internet and technology...
About this update from Tencent Holdings Ltd
[{"type":"text","content":"\n \n\t\t \n \n \n \n HONG KONG, Aug. 14, 2024 /PRNewswire/ -- Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), \"Tencent\" or the \"Company\"), a world-leading Internet and technology company in China, today announced the unaudited consolidated results for the second quarter (\"2Q2024\") ended Jun 30, 2024.\nMr. Ma Huateng, Chairman and CEO of Tencent, said, \"Our second quarter 2024 results demonstrated the strengths of our platform plus content strategy. Our Domestic Games revenue resumed growth, and our International Games revenue accelerated growth, due to increased user engagement at several of our evergreen titles, and the successful launches of certain new games. Tencent Video achieved notable audience and subscriber growth with drama series developed from China Literature IP and produced internally. Looking forward, we continue to invest in our platforms and technologies including AI, enabling us to create new business value and better serve user needs.\"\n2Q2024 Financial HighlightsRevenues: +8% YoY; gross profit: +21% YoY; non-IFRS[1] operating profit*: +27% YoY\n\n Total revenues were RMB161.1 billion (USD22.6 billion[2]), up 8% over the second quarter of 2023 (\"YoY\").\n Gross profit was RMB85.9 billion (USD12.1 billion), up 21% YoY.\n On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:\n \n Operating profit* was RMB58.4 billion (USD8.2 billion), up 27% YoY. Operating margin* increased to 36% from 31% last year.\n Profit for the period was RMB58.4 billion (USD8.2 billion), up 51% YoY.\n Profit attributable to equity holders of the Company for the quarter was RMB57.3 billion (USD8.0 billion), up 53% YoY.\n Basic earnings per share were RMB6.151. Diluted earnings per share were RMB6.014.\n \n On an IFRS basis:\n \n Operating profit* was RMB50.7 billion (USD7.1 billion), up 40% YoY. Operating margin* increased to 31% from 24% last year.\n Profit for the period was RMB48.4 billion (USD6.8 billion), up 79% YoY. \n Profit attributable to equity holders of the Company for the quarter was RMB47.6 billion (USD6.7 billion), up 82% YoY.\n Basic earnings per share were RMB5.112. Diluted earnings per share were RMB4.994.\n \n Total cash was RMB415.2 billion (USD58.3 billion) an...