Tencent sees revenue, net profit rise in Q3

SHENZHEN - Chinese internet giant Tencent has reported year-on-year increases in revenue and net profit during the third quarter of 2024.

Tencent raked in some 167.2 billion yuan ($23.2 billion) in its total revenue during the third quarter, up 8 percent year-on-year, according to the company's financial results released on Wednesday.

Its operating profit rose 19 percent year-on-year to about 61.3 billion yuan during the same period.

During the period, Tencent's international market gaming revenue increased by 9 percent year-on-year to 14.5 billion yuan, setting a new quarterly revenue record and boosting the overall growth of Tencent's gaming segment, according to the company.

Wednesday's report also shows that Tencent invested 17.9 billion yuan in research and development (R&D) during the third quarter, adding that the company has poured in more than 320.5 billion yuan in R&D since 2018.