Zheng Quan Shi Bao·2025-11-13 18:00Core Insights - Tencent Holdings reported Q3 revenue of 192.87 billion yuan, a 15% year-on-year increase, and a net profit of 63.13 billion yuan, up 19% year-on-year [1] - The company emphasized the role of AI in enhancing business operations and increased marketing expenditures [1] - Tencent's gross profit for Q3 reached 108.80 billion yuan, a 22% increase, with gross margin rising from 53% to 56% year-on-year [1] Financial Performance - For the first nine months of the year, Tencent's total revenue was 557.39 billion yuan, a 14% increase, and net profit was 166.58 billion yuan, up 17% year-on-year [1] - Basic earnings per share for the quarter were 6.95 yuan, a 21% increase, while diluted earnings per share were 6.78 yuan, up 20% year-on-year [1] Business Segments - Value-added services revenue was 95.86 billion yuan, a 16% increase, accounting for 50% of total revenue [2] - Marketing services revenue reached 36.24 billion yuan, up 21%, driven by increased user engagement and AI-driven advertising technology [2] - Financial technology and enterprise services revenue was 58.17 billion yuan, a 10% increase, supported by growth in commercial payment activities and cloud services [2] User Metrics - As of September 30, 2025, WeChat and WeChat combined monthly active accounts reached 1.414 billion, a 2% year-on-year increase [3] - QQ mobile terminal monthly active accounts were 517 million, down 8% year-on-year [3] - The number of paid value-added service subscribers remained stable at 265 million [3] R&D Investments - Tencent increased its R&D spending, with Q3 general and administrative expenses at 34.26 billion yuan, an 18% increase [3] - R&D investment reached 22.82 billion yuan, a record high for a single quarter, reflecting a 28% year-on-year increase, primarily focused on AI-related research [3]