腾讯：Q3营销服务业务收入362亿元，同比增21%

Core Insights - Tencent's marketing services revenue for Q3 2025 increased by 21% year-on-year to 36.2 billion yuan, driven by higher ad exposure and improved user engagement [1] Group 1 - The growth in marketing services revenue is attributed to increased ad exposure, which benefited from enhanced user engagement and ad loading rates [1] - AI-driven ad targeting contributed to the growth in effective cost per mille (eCPM) [1] - All major industries saw an increase in advertising spending during the quarter [1]