Ge Long Hui·2025-05-14 09:32Core Insights - Tencent's value-added services revenue for Q1 2025 increased by 17% year-on-year to 92.1 billion yuan, surpassing the estimated 87.35 billion yuan [1] Group 1: Gaming Revenue - Domestic gaming revenue reached 42.9 billion yuan, a 24% year-on-year increase, driven by revenue growth from "Honor of Kings" and "Peacekeeper Elite," along with contributions from newly released games "Dungeon & Fighter: Origin" and "Delta Action" [1] - International gaming revenue was 16.6 billion yuan, reflecting a 23% year-on-year growth (22% growth at constant exchange rates), attributed to revenue increases from "Brawl Stars," "Clash Royale," and "PUBG MOBILE" [1] Group 2: Social Network Revenue - Social network revenue grew by 7% year-on-year to 32.6 billion yuan, supported by sales of mobile game virtual items, music subscription revenue, and service fees from mini-game platforms [1]