About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Investors might want to bet on Tencent Holding Ltd. (TCEHY) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the ...

Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.SINGAPORE — Chinese tech giant Tencent is increasingly leveraging its WeChat super-app ecosystem to set itself apart from dominant global cloud service players, Tencent Cloud CEO Dowson Tong said.  More clients are interested in engaging in the creation of their own super apps, a service Tencent Cloud offers by way of sharing its technology and operational experience gained as it est ...

Five eminent speakers, including Nobel laureates and the top Chinese physicist Qi-Kun Xue, share groundbreaking insights at the Tencent WE Summit in Chengdu.SHENZHEN, China, Nov. 15, 2024 /PRNewswire/ -- On November 3, the 12th Annual Tencent WE Summit took place at the Chengdu Science Fiction Museum. Five world-renowned scientists took the stage, including Qi-Kun Xue, President of Southern University of Science and Technology, and professor at Tsinghua University; Kip S. Thorne, Nobel laureate and Feynman ...

On a generally gloomy Thursday for the stock market, Tencent Holdings (TCEHY 3.05%) was something of a standout. On the Chinese company's latest news, investors piled into its shares, leaving them with a more than 3% increase at market close. This compared very favorably to the S&P 500 index's 0.6% dip on the day.A big bottom-line popTencent reported its third-quarter results after market hours on Wednesday, revealing that it managed to grow revenue by 8% year over year in the period to over 167 billion yua ...

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Detailed discussion of risk factors and non-IR measures, please refer to our disclosure document on the IR section of our website. Now let me introduce the management team on webinar tonight. Our Chairman and CEO, Paul Nima, will kick off with a short overview. and contribution from new games with evergreen potential. We upgrade our e-commerce strategy around mini shops. and partners. Looking at our financial numbers for the quarter, total revenue was 167 billion RMB up 8% year-on-year and 4% quarter-on-qua ...

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Financial Data and Key Metrics - Total revenue for Q3 2024 was RMB 167 billion, up 8% YoY and 4% QoQ [8] - Gross profit was RMB 89 billion, up 16% YoY and 3% QoQ [8] - Non-IFRS operating profit was RMB 61 billion, up 19% YoY and 5% QoQ [8] - Diluted EPS was RMB 6.34, up 36% YoY [40] - Free cash flow was RMB 58.5 billion, up 14% YoY [45] Business Line Data and Key Metrics - Value-Added Services (VAS) revenue was RMB 83 billion, up 9% YoY, with social networks contributing RMB 31 billion, up 4% YoY [14] - Domestic games revenue grew 14% YoY to RMB 37 billion, driven by titles like Honour of Kings and Peacekeeper Elite [15] - International games revenue increased 9% YoY to RMB 15 billion, with PUBG Mobile and Brawl Stars performing well [16] - Marketing Services revenue grew 17% YoY, with video accounts marketing services revenue increasing over 60% YoY [29][31] - FinTech and Business Services revenue was RMB 53 billion, up 2% YoY [33] Market Data and Key Metrics - Combined MAU of WeChat and QQ grew to 1.38 billion, with QQ mobile MAU resuming YoY growth to 562 million [9] - Mini Programs facilitated over RMB 2 trillion in GMV in Q3 2024, driven by use cases like food ordering and medical services [17] - International cloud revenue increased significantly YoY, leveraging competitive pricing and domain expertise in gaming and live streaming [36] Company Strategy and Industry Competition - The company upgraded its e-commerce strategy around Mini Shops to create a unified transaction experience within the Weixin ecosystem [7] - AI deployment across products and operations, including marketing services and cloud, is yielding tangible benefits [7] - The company continues to invest in AI technology, tools, and solutions to assist users and partners [7] - The strategy for games focuses on leveraging both in-house studios and external partnerships to create evergreen titles [53][54] Management Commentary on Operating Environment and Future Outlook - Management highlighted the robust performance of evergreen games and the potential of new titles like DnF Mobile and Delta Force [6][10] - The company is optimistic about the long-term potential of its e-commerce ecosystem, particularly with the upgrade to Mini Shops [59][60] - Management is constructive on the outlook for international games revenue growth, given the deferred revenue backlog and potential from new releases [70] Other Important Information - The company introduced Tencent Hunyuan Turbo, which doubles training and inference efficiency and halves inference costs compared to its predecessor [35] - GPU-powered services now represent a teens percentage of the company's infrastructure as a service revenue [34] - The company made its Hunyuan large model and 3D generation models available on an open-source basis [36] Q&A Session Summary Question: Implications of major hit games on the industry and Tencent's game strategy - The success of games like Black Myth Wukong and Whiteout Survival reflects a structural trend facilitated by China's large home market and engineering workforce [50][51] - Tencent's strategy focuses on leveraging both in-house studios and external partnerships to create evergreen titles [53][54] Question: Upgrade to Weixin Mini Shops and its potential - The upgrade aims to create a unified and trustworthy e-commerce platform within Weixin, improving the shopping experience for consumers and providing better transaction support for merchants [56][57] - The potential is significant, with Mini Programs already facilitating RMB 2 trillion in GMV, primarily in services [60] Question: Weixin Search and international games deferred revenue - Weixin Search saw commercial queries increase and click-through rates improve, with search revenue more than doubling YoY [32][66] - The elongation of deferred revenue periods for international games is primarily for flagship titles, with deferral periods typically six to nine months or longer [70] Question: Macroeconomic environment and positioning - Management is encouraged by recent pro-growth policies in China and is constructive on the long-term economic outlook [73][74] - The company focuses on compliance, product improvement, and cost efficiency to navigate the evolving regulatory and macroeconomic environment [75][76] Question: Near-term focus for Weixin e-commerce and collaboration with Taobao - The near-term focus is on improving the infrastructure and functionalities of Mini Shops, with growth expected to follow [83][84] - The collaboration with Taobao has seen good adoption of Weixin Pay, benefiting both companies [85] Question: Delta Force monetization and payment revenue decline - Delta Force is monetizing well, with the majority of revenue generated on PC, despite the majority of users being on mobile [90][91] - The decline in payment revenue is due to the elimination of lower-quality transactions and a focus on smaller ticket everyday items [92][93] Question: Earnings growth outlook and share buyback - The company does not have a specific target for earnings growth but aims to achieve operating leverage from revenue growth [95][96] - Share buybacks for 2024 are expected to exceed the RMB 100 billion target, with plans for 2025 to be shared at the year-end earnings announcement [97][98] Question: AI-related revenue and Hunyuan monetization - AI is driving significant benefits in content recommendation and ad targeting, with GPU-powered services contributing to infrastructure as a service revenue [101][102] - The company is testing Hunyuan across various products and services, with more use cases expected to scale in the coming quarters [105][106] Question: Game preferences and FinTech strategy - Younger users in China disproportionately favor first-person action games, with titles like VALORANT and Delta Force performing well [109][110] - The company is focusing on wealth management, particularly money market funds, and is cautious on lending due to macroeconomic conditions [114][116] Question: Game business adjustments and advertising outlook - Adjustments to game teams, such as Honour of Kings and Peacekeeper Elite, have been productive, with both games registering good growth [120][121] - The advertising business is expected to continue outperforming peers, driven by ad tech enhancements and increased ad load in video accounts [129][131] Question: Collaboration with Taobao and future partnerships - The collaboration with Taobao benefits users, Tencent, and Taobao, with significant work done to ensure a good user experience and compliance [134][135] - The company is open to future collaborations that make sense and are safe for users and content partners [138]

Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Chinese social media and gaming company Tencent on Wednesday reported better-than-expected profit in the third quarter, spurred by growth in games, advertising and cloud services.Tencent reported profit attributable to shareholders of 53.23 billion yuan ($7.37 billion) in the third quarter, compared with a LSEG estimate of 46.18 billion yuan over the period. The company's revenue cam ...