“Tencent Reports Strong First Quarter Results with 11% YoY Revenue Growth”

DoNews news on May 17, Tencent Holdings (00700) announced today the unaudited comprehensive results for the first quarter ended March 31, 2023. The financial report shows that Tencent’s revenue in the first quarter was 150 billion yuan, an increase of 11% year-on-year, and the market estimated 146.29 billion yuan; the adjusted net profit in the first quarter was 32.5 billion yuan, a year-on-year increase of 27%, and an estimated 33.22 billion yuan .

Tencent’s online advertising revenue in the first quarter was 21 billion yuan, a year-on-year increase of 17%. Financial technology and enterprise service revenue was 48.7 billion yuan, a year-on-year increase of 14%. Value-added service revenue was 79.337 billion yuan, a year-on-year increase of 9%. Among them, the international market game revenue was 13.2 billion yuan, a year-on-year increase of 25%; the local market game revenue was 35.1 billion yuan, a year-on-year increase of 6%; social network revenue was 31 billion yuan, a year-on-year increase of 6%.

The combined monthly active accounts of WeChat and WeChat were 1.319 billion, a year-on-year increase of 2%. In the first quarter, online advertising revenue was 21 billion yuan, an estimated 21.34 billion yuan.