Tencent Q4 Earnings Soar: 30% Surge In Net Income, Strong Performance From Games And AI

Chinese gaming giant Tencent Holding Ltd (OTC:TCEHY) reported fiscal fourth-quarter 2024 results on Wednesday.

Revenue grew 11% year-on-year to CNY172.4 billion ($24.0 billion), quashing the analyst consensus estimate of CNY168.95 billion.

Combined, the MAU of Weixin and WeChat grew by 3% Y/Y to 1.385 billion as of December 31, 2024.

Fee-based VAS registered subscriptions grew 7% Y/Y to 262 million. Mobile device MAU of QQ fell 5% Y/Y to 524 million as of December 31, 2024.

Revenues from VAS increased by 14% Y/Y to CNY79.0 billion. International Games revenues were CNY16.0 billion, up 15% Y/Y, due to strong performances from games including PUBG MOBILE and Brawl Stars along with the early access release of Path of Exile 2.

Domestic Games revenues increased by 23% Y/Y to CNY33.2 billion, driven by games including VALORANT, Honour of Kings, Peacekeeper Elite, and DnF Mobile, along with contributions from newly released games, DnF Mobile and Delta Force.

Social Networks revenues ...