Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.
Cheng Xin | Getty Images News | Getty Images
Tencent on Wednesday reported an annual rise in its top and bottom line in the first quarter fuelled by accelerated growth in its key gaming business.
While revenue beat expectations, its net profit fell short.
Here’s how Tencent did in the first quarter of 2025 versus LSEG estimates:
- Revenue: 180.02 billion Chinese yuan ($25 billion), versus 174.63 billion yuan expected
- Net profit: 47.8 billion yuan, versus 52.2 billion yuan expected
Revenue rose 13% year-on-year, while net profit was up 14%.
Tencent is one of the world’s largest gaming companies, with revenues from its hit titles driving its overall performance. Domestic games revenue, which is sales from China, rose 24% year-on-year to 42.9 billion yuan thanks to the performance of “Honor of Kings” and “Peacekeeper Elite,” as well as that of newer titles like “DnF Mobile.”
Revenue from its international gaming business totaled 16.6 billion yuan, a 23% year-on-year rise driven by games such as “Brawl Stars” and “PUBG Mobile.”
Tencent also runs WeChat — China’s biggest messaging app that boasts over 1.4 billion monthly active users. The so-called super app allows users to do everything from mobile payments to playing games and booking flights.
The huge userbase has allowed Tencent to start monetizing the platform through advertising, and it has become a fast-growing business for the Chinese tech giant.
Marketing services revenue grew 20% year-on-year in the first quarter to 31.9 billion yuan. Tencent this was due to “robust advertiser demand” for its video, search and Mini Program product within WeChat. Mini Programs are apps that are hosted within WeChat.
This breaking news story is being updated.
