腾讯控股ADR美股盘前涨近4%，公司一季度营收超预估。 | | | | "/ 富达十十 · 日达 | | | | 00 U K | - | | U X | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | ■ 腾讯控股(ADR) 分时 ▼ 1天 : 1分K ▽ > ∑ VS FIO □ | | | | 报价 | 分析 资讯 · | | | 评论 · | | = | | = + 8 × ▽ ▽ × | | | | | TCEHY 腾讯控股(ADR) | | | 0 | | | | | 盘前总额 47.15万 盘前总量 盘前分时 ▼ □ ⊙ + | | | | | | | | | | | | | | | | 65.6104-0.610 -0.92% | | 收盘价 05/13 16:00 美东 | | | 68.200 68.130 | | | | | 3.95% 3.84% | 68.130 + 2.520 +3.84% | | | 盘前价 05/14 08:49 美东 | | | 68.056 | | | | | ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was RMB 180 billion, up 13% year on year [7][25] - Gross profit reached RMB 100.5 billion, up 20% year on year [25] - Non-IFRS operating profit was RMB 69.3 billion, up 18% year on year [27] - Non-IFRS net profit attributable to equity holders was RMB 61.3 billion, up 22% year on year [27] - Overall gross margin improved to 56%, up three percentage points year on year [28] Business Line Data and Key Metrics Changes - Value-added services (VAS) revenue was RMB 92 billion, up 17% year on year [12] - Social networks revenue increased by 7% year on year to RMB 33 billion [12] - Domestic games revenue grew by 24% year on year, driven by flagship games [13] - International games revenue increased by 23% year on year [14] - Marketing services revenue grew 20% year on year to RMB 32 billion [20] - FinTech and Business Services segment revenue was RMB 55 billion, up 5% year on year [22] Market Data and Key Metrics Changes - Combined monthly active users (MAU) of Weixin and WeChat reached 1.4 billion [8] - Music subscription revenue increased 17% year on year, with subscribers growing to 123 million [12] - Mini shops GMV continued rapid year on year growth [15] Company Strategy and Development Direction - The company is focusing on AI investments, including applications like Yuan Bao and AI in Weixin, expecting long-term value creation [7][12] - The strategy includes enhancing advertising capabilities through AI, improving user engagement in games, and expanding the Weixin ecosystem [12][38] - The company aims to leverage existing high-quality revenue streams to support AI-related investments [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of AI investments despite short-term operating profit growth being impacted [12][38] - The company noted improvements in credit quality for consumer loans facilitated through its platform, indicating a positive macroeconomic trend [77] - Management acknowledged the dynamic situation regarding high-end GPU availability and its impact on AI development [70][72] Other Important Information - Operating CapEx was RMB 26.4 billion, up almost 300% year on year, driven by AI investments [30] - Free cash flow was RMB 47.1 billion, down 9% year on year due to increased CapEx spending [30] Q&A Session All Questions and Answers Question: Can management comment about the outlook and differentiations of Weixin versus peers in the market? - Management highlighted the unique integration of agentic AI within the Weixin ecosystem, leveraging its social graph and content capabilities to differentiate from competitors [34][38] Question: Can management comment about the latest organizational adjustment in ecommerce? - Management clarified that the ecommerce team has become an independent department, but the change is not significant as it is still managed by the same manager [41] Question: What are some notable user behavior changes observed post AI integration? - Management indicated that it is still early to conduct a systematic analysis, but initial use cases show increased user interaction with AI features [63][65] Question: What is the long-term growth outlook for domestic games? - Management believes there is a long runway for growth, driven by changes in operations and the utilization of AI in competitive multiplayer games [53][56] Question: How is the company managing the balance between pace of investments versus revenue runway? - Management aims to generate demand aggressively and will adjust pace if demand exceeds GPU capacity [49]

Tencent (00700) Q1 2025 Earnings Call May 14, 2025 08:00 AM ET Speaker0 Good day, and good evening. Thank you for standing by. Welcome to Tencent Holdings Limited twenty twenty five first quarter announcement webinar. I'm Wendy Huang from Tencent IR team. At this time, all participants are in a listen only mode. After management's presentation, there will be a question and answer session. For participants who dial in by phone, if you wish to ask a question, please press 5 on your telephone to raise your han ...

行业主要公司：阿里巴巴(09988.HK，BABA.US);百度(09888.HK，BIDU.US);腾讯(00700.HK， TCEHY);科大讯飞(002230.SZ);三六零(601360.SH);云从科技(688327.SH)等 2025年开始投融资呈爆发式增长 截至2025年4月，多模态大模型投融事件数量接近50件，其中国2021年投融资金额出现了高峰，达19.1 亿元，尽管当年投资事件数量为5件。2024年开始新一轮的投资周期，共有11件投资事件，金额达5.16 亿元。2025年前4个月，共有17件投资事件，金额为16亿元，后续多模态大模型题材的投资将呈现爆发 式增长。 投资目的地为北京 根据企业投融资目的地来看，目前行业内资金主要流向北京，占全部项目的一半。其次是深圳，占比 10%，上海占比8%。北京具有良好的互联网科技、人工智能产业发展基础，企业对于多模态大模型需求 较高，投资吸引力强。此外还有宁波、三亚、苏州三市的项目，这些地方具有较好的营商环境。 多模态大模型生成生活相关场景 智能营销、教学辅助、3D建模以及智能驾驶等应用场景是生产生活中的重要领域，也是目前多模态大 模型可以切入并且精准赋 ...

2025 First Quarter Results Presentation May 14, 2025 2 1. Overview 3 1 Cautionary Note This presentation may contain forward-looking statements relating to the forecasts, targets, outlook, estimates of financial performance, opportunities, challenges, business developments, business plans and growth strategies of Tencent Holdings Limited (the "Company" or "Tencent") and its group companies. These forward-looking statements are based on information currently available to Tencent and are stated here on the ba ...

智通财经APP获悉，5月14日港股市场，北水成交净买入67.07亿港元，其中港股通(沪)成交净买入50.03 亿港元，港股通(深)成交净买入17.04亿港元。 北水净买入最多的个股是盈富基金(02800)、建设银行(00939)、中国平安(02318)。北水净卖出最多的个 股是小米集团-W(01810)、腾讯(00700)、中芯国际(00981)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 小米集团-W | 15.53 乙 | 25.94亿 | 41.47 乙 | | HK 01810 | | | -10.41 Z | | 盘富县金 | 41.10亿 | 2085.60万 | 41.31亿 | | HK 02800 | | | +40.89亿 | | 阿里巴巴-W | 19.36 Z | 20.61 乙 | 39.98亿 | | HK 09988 | | | -1.25 亿 | | 腾讯控股 | 13.11亿 | 20.34亿 | 33.45亿 | | HK 00700 | | | -7.23 亿- | | 建设 ...

每经编辑｜黄胜 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 腾讯控股公告称，AI能力已经对效果广告与长青游戏等业务产生了实质性的贡献：我们亦加大了对元宝应用与微信内的AI等新AI机遇的投入。我们相信， 在AI战略投入阶段，现有高质量收入带来的经营杆杆，将有助于消化这些AI相关投入产生的额外成本，保持财务稳健。我们预期，这些战略性的AI投入将 为用户与社会创造价值，并为我们产生长期、可观的增量回报。 公司表示，一季度，本土市场游戏收入为人民币429亿元，较去年同期的低基数同比增长24%，得益于《王者荣耀》与《和平精英》的收入增长，以及近期 发布的《地下城与勇士：起源》与《三角洲行动》的收入贡献。国际市场游戏收入为人民币166亿元，同比增长23%（按固定汇率计算增长22%），乃由于 《荒野乱斗》、《部落衝突：皇室战争》及《PUBGMOBILE》的收入增长。 腾讯财报称多款长青游戏，包括《王者荣耀》和《穿越火线手游》，于游戏传统旺季的第一季，流水创下历史新高。腾讯营销服务业务二零二五年第一季的 收入同比增长20%至人民币319亿元。此增长主要由于广告主对视频号、小程序及微信 ...

金融科技及企业服务业务549亿元，同比增长5%。金融科技服务收入的增长乃由於消费贷款服务及理财 服务收入增长。企业服务收入的增长乃受云服务收入及商家技术服务费的增长所驱动。 於2025年第一季，增值服务业务收入921亿元，同比增长17%。本土市场游戏收入为429亿元，较去年同 期的低基数同比增长24%。国际市场游戏收入为166亿元，同比增长23%(按固定汇率计算增长22%)。社 交网络收入同比增长7%至326亿元，得益於手游虚拟道具销售、音乐付费会员收入及小游戏平台服务费 的增长。 营销服务业务收入319亿元，同比增长20%。此增长主要由於广告主对视频号、小程序及微信搜一搜广 告库存的强劲需求，得益於用户参与度提高、广告平台持续的AI升级以及微信交易生态系统的优化。 本季来自大多数重点行业的营销服务收入均有所增长。 【财华社讯】腾讯控股(00700.HK)公布，截至2025年3月31日止三个月，收入约1800.22亿元(人民币,下 同)，同比增长13%；公司权益持有人应占盈利478.21亿元，同比增长14%；非国际财务报告准则公司权 益持有人应占盈利613.39亿元，同比增长22%。每股基本盈利5.252元。 ...

Core Insights - Tencent reported an annual increase in both revenue and net profit for the first quarter of 2025, driven by strong growth in its gaming sector [1] - Revenue exceeded market expectations, while net profit fell short of estimates [1] Financial Performance - Revenue reached 180.02 billion Chinese yuan ($25 billion), surpassing the expected 174.63 billion yuan [3] - Net profit was reported at 47.8 billion yuan, which was below the anticipated 52.2 billion yuan [3] - Year-on-year revenue growth was 13%, while net profit increased by 14% [1]

智通财经5月14日电，腾讯控股表示，2025年一季度，本集团产生的自由现金流为人民币471亿元。此乃 经营活动所产生的现金流量净额人民币769亿元，部分被资本开支付款人民币230亿元（主要用于支持我 们AI相关的业务发展），以及媒体内容付款人民币53亿元及租赁负债付款人民币15亿元所抵销。 腾讯控股：一季度资本开支付款230亿元主要用于AI相关业务 ...