TENCENT(HK:00700) 3 6 Ke·2025-11-13 23:31Core Insights - Tencent reported Q3 2025 revenue of 192.9 billion yuan, a 15% year-on-year increase, with net profit attributable to shareholders reaching 63.1 billion yuan, up 19% [1] - The growth is attributed to healthy trends in gaming, marketing services, fintech, and enterprise services [1] Gaming Business Performance - Tencent's gaming revenue for Q3 was 63.6 billion yuan, reflecting a 24% year-on-year increase, with domestic market revenue at 42.8 billion yuan (up 15%) and international market revenue at 20.8 billion yuan (up 43%) [2][3] - The international gaming revenue reached a historical high, breaking the 20 billion yuan mark for the first time, driven by the integration of acquired studios and successful game launches [3][4] - Key contributors to international growth included Supercell's game revenue, the performance of the newly released PC and console game "Dying Light: Stay Human," and the success of "Clash Royale" [4] Domestic Market Trends - Domestic gaming revenue showed steady growth, supported by flagship titles like "Honor of Kings" and "Peacekeeper Elite," as well as strong performances from newly launched games [4][11] - "Delta Force" emerged as a significant title, consistently ranking in the top 10 of the App Store's best-selling games [7] New Game Releases and Future Outlook - Tencent launched two new games in Q3, with "Vanguard: Source" achieving a peak ranking of 4 in the sales chart and surpassing 50 million monthly active users shortly after its release [9][11] - The company has a robust pipeline with 27 approved game titles, covering various genres including open-world RPGs and team-based shooters, indicating a focus on sustainable growth [12][18] Strategic Focus - Tencent is actively seeking collaborations with overseas studios and aims to bring more Chinese games to global audiences [2] - The company emphasizes the importance of long-term development and sustainability in its gaming business, ensuring a steady flow of new content to maintain engagement [11][18]