• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Tencent Stock: Q3 Profit Surges 47%, Gaming and Ads Lead

by November 15, 2024
written by November 15, 2024

Tencent Holdings Ltd (HK:0700) reported robust third-quarter results, surpassing profit expectations primarily due to strong growth across its gaming, advertising, and cloud segments.

Profit attributable to shareholders surged 47% year-over-year to 53.23 billion yuan ($7.37 billion), well above LSEG’s forecast of 46.18 billion yuan. However, revenue came in slightly below estimates, rising 8% to 167.19 billion yuan against an expected 167.82 billion yuan.

Gaming and Advertising Drive Strong Q3 Growth Amid Global Expansion

Gaming remains a cornerstone of Tencent’s business, contributing significantly to its growth. Domestic gaming income rose 14% year-over-year to 37.3 billion yuan, driven by new releases and sustained engagement with popular titles.

The international gaming segment also performed well, with revenue up 11% to 14.5 billion yuan in constant currency, highlighting the company’s ability to expand globally and leverage its gaming portfolio’s “evergreen potential.”

The marketing services segment, previously classified as online advertising, grew 17% to reach 29.99 billion yuan, emerging as one of Tencent’s fastest-growing divisions. This growth reflects strong demand for advertising in Tencent’s ecosystem, especially on Weixin (WeChat), where short videos, mini-programs, and search functions are increasingly popular among advertisers.

Tencent’s results indicate a successful diversification strategy, with promising expansion in advertising and international gaming markets. While revenue growth slightly missed expectations, the profit beat underscores operational efficiencies and resilient demand across its core and emerging segments.

Tencent’s Stock Chart Analysis

Tencent Holdings Ltd (HK:0700) recently saw its share price decline following a period of selling pressure. The 15-minute candlestick chart reveals the stock experienced a steady drop from around 423 HKD to a low of 396 HKD over the last few days. This downtrend could reflect profit-taking by investors or market reactions to broader economic uncertainties, despite Tencent’s strong quarterly earnings report.

In the third quarter, Tencent reported a notable 47% increase in net profit to 53.23 billion yuan, surpassing expectations. Key drivers included strong performance in its gaming and advertising segments. Domestic gaming revenue grew 14%, while international gaming saw an 11% rise, underscoring Tencent’s diverse portfolio and ability to maintain high engagement across markets.

Additionally, the marketing services segment (formerly online advertising) recorded a 17% year-over-year increase, bolstered by demand for short video and mini-program advertising on WeChat.

The recent upward movement from the 396 HKD low could indicate a reversal as buying interest returns around a support level. Investors may view the stock as attractive again after the recent dip, supported by Tencent’s earnings strength. Further upside could be anticipated if the stock maintains support near this level and broader market sentiment stabilizes. However, a break below this support could suggest continued volatility in the near term.

The post Tencent Stock: Q3 Profit Surges 47%, Gaming and Ads Lead appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Shopify’s Stock Surged By 25% After Reporting Strong Revenue
next post
Bitcoin & Ethereum Analysis: BTC Hits High, ETH Is Steady

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • EURUSD and GBPUSD: EURUSD on new July high up to 1.09000

    July 12, 2024
  • SCOTUS rules on nearly $2B in frozen USAID payments

    March 5, 2025
  • Ex-Pelosi aide accuses Hakeem Jeffries of ‘squandering’ anti-Trump opportunities in stunning rebuke

    May 2, 2025
  • FBI investigating leak of classified docs on Israeli preparations for possible Iran strike

    October 23, 2024
  • U.S. unemployment rate ticks up to 4.3% amid signs of broader economic slowdown

    August 5, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,602)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Israel bans UN secretary-general over anti-Israel actions: ‘Doesn’t deserve to set foot on Israeli soil’

    October 2, 2024
  • Trademark dispute emerges over Tiger Woods’ new logo

    September 30, 2024
  • Kamala Harris underperformed Biden’s numbers with women. South Dakota’s governor thinks she knows why.

    November 7, 2024

Recent Posts

  • Turkey’s Erdogan threatens to invade Israel over war in Gaza as regional tensions grow

    July 29, 2024
  • Legal experts question Harris’ backing from donors with government ties

    October 22, 2024
  • Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

    January 29, 2025

Editor’s Pick

  • Trump team signs memorandum of understanding with Biden White House to formalize transition

    November 26, 2024
  • Trump budget bill hangs in balance after president urges House GOP rebels to halt mutiny

    April 9, 2025
  • US seizes Venezuelan leader Maduro’s plane in the Dominican Republic

    September 2, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock