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China's Tencent sees profits surge as AI drive accelerates

Summary by France24

Chinese internet and gaming giant Tencent said on Wednesday that profits in the fourth quarter of 2024 surged 90 percent as the firm accelerates a push into artificial intelligence (AI).

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TechNode

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Tencent's games signal high player engagement but lack of new IP

On Wednesday, Tencent released its 2024 annual financial results, declaring 14 games to be “evergreen games” generating over four billion yuan ($550 million) annually with an average of five million daily active users per quarter or PC games exceeding two million daily active users.Why it matters: Tencent’s self-reported success at generating revenue from “evergreen games” suggests sustained player engagement but also reflects a reliance on exi…

11 days ago

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Nikkei

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Tencent posts strong quarterly earnings on games and AI-powered ads

HONG KONG -- China's most valuable company, Tencent Holdings, posted a much better-than-expected quarterly result on Wednesday, due to strong growth i

12 days ago·Japan

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Investor's Business Daily

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Tencent Gaming Growth Powers Q4 Earnings Beat As Tech Giant Touts AI Push

Tencent earnings and sales beat expectations, powered by strong growth in gaming revenue and AI progress. The post Tencent Gaming Growth Powers Q4 Earnings Beat As Tech Giant Touts AI Push appeared first on Investor's Business Daily.

12 days ago

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France24

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robodaily.com

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China's Tencent sees profits surge as AI drive accelerates

Chinese internet and gaming giant Tencent said on Wednesday that profits in the fourth quarter of 2024 surged 90 percent as the firm accelerates a push into artificial intelligence (AI).

12 days ago·France

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Fortune

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Tencent sets $10 billion buyback after sales beat estimates

Tencent Holdings Ltd. plans to buy back more than $10 billion of stock after posting its fastest pace of quarterly revenue growth since 2023, buoyed by a string of gaming hits during a Chinese economic downturn. Revenue for the three months ended December rose a better-than-projected 11% to 172.5 billion yuan ($23.8 billion). Net income almost doubled to 51.3 billion yuan, ahead of projections. The company also unveiled plans to buy back at leas…

12 days ago·New York, United States

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