腾讯：Q3本土游戏收入同比增15%，国际市场同比增43%

Core Viewpoint - Tencent's value-added services revenue for Q3 2025 increased by 16% year-on-year to 95.9 billion yuan, driven by strong performance in both domestic and international gaming markets as well as social network services [1] Group 1: Revenue Breakdown - Domestic gaming revenue reached 42.8 billion yuan, a 15% year-on-year increase, attributed to new game releases like "Delta Action," growth from established titles such as "Honor of Kings" and "Peacekeeper Elite," and the expansion of "Valorant" from PC to mobile [1] - International gaming revenue was 20.8 billion yuan, showing a significant 43% year-on-year growth (42% at constant exchange rates), primarily due to revenue growth from Supercell's games, contributions from recently acquired game studios, and strong sales of the newly released PC and console game "Dying Light: Stay Human" [1] Group 2: Social Network Services - Social network revenue grew by 5% year-on-year to 32.3 billion yuan, benefiting from increased income from video account live streaming services, music subscription fees, and small game platform service fees [1]