Tencent has faced a variety of headwinds in 2022 such as a Covid-induced slowdown in the Chinese overall economy and a tougher marketplace for gaming.
Bobby Yip | Reuters
Tencent defeat analyst estimates for profits and income in the 1st quarter, many thanks to somewhat far better profits in the Chinese tech giants main gaming company and enhanced profitability at its marketing and company services division.
Here’s how Tencent did in the March quarter vs . LSEG consensus estimates:
- Revenue: 159.5 billion Chinese yuan ($22 billion) compared to 158.4 billion yuan expected.
- Gain attributable to fairness holders of the company: 41.9 billion yuan compared to 36.64 billion yuan anticipated.
Tencent’s altered net earnings was up 62% 12 months-on-calendar year, marking the speediest progress because the March quarter of 2021, in accordance to LSEG info. Earnings jumped 6% 12 months-on-yr.
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