Rakuten on May 14
Tencent Holdings Limited (HKEX: 00700 (HKD counter) and 80700 (RMB counter)) today announced its unaudited consolidated results for the first quarter ended 31 March 2024. According to the financial report, Tencent's revenue in the first quarter of 2024 will be 159.5 billion yuan, a year-on-year increase of 6%.
Tencent's value-added service business revenue in the first quarter of 2024 was 78.6 billion yuan, down 0.9% year-on-year, of which Tencent's game revenue was 48.1 billion yuan, an increase of 18% from 40.9 billion yuan in the previous quarter, and basically the same as the same period last year.
Tencent's total game turnover from the international market in the first quarter of 2024 increased by 34% year-on-year, benefiting from the resurgence in popularity of Supercell games (especially Brawl Stars) and the growth of users and turnover of PUBG MOBILE.
Due to Supercell's long game revenue deferral period, game revenue in the international market increased by 3% year-on-year to RMB13.6 billion (stable year-on-year at constant exchange rates).
Tencent's operating profit in the first quarter of 2024 was 52.6 billion yuan ($7.4 billion), up 38% year-on-year. On a non-IFRS basis, Tencent's operating profit was 58.6 billion yuan (US$8.3 billion), up 30% year-on-year.
In the first quarter, Tencent repurchased approximately 51.04 million shares for a total consideration of approximately HK$14.8 billion.
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