Chinese technology giant Tencent Holdings posted an 11% rise in fourth-quarter revenue on Wednesday, driven by growth in its gaming business.
Tencent Holdings Ltd. reported a robust performance in its fourth-quarter earnings, driven by a significant rebound in its gaming sector. The Chinese tech giant saw its net profit rise by 12% to 29.7 billion yuan ($4.2 billion), surpassing analyst expectations. This growth was primarily fueled by the recovery of its domestic gaming business, which had faced regulatory challenges in the past. Key games like "Honor of Kings" and "PUBG Mobile" saw increased player engagement and revenue. Additionally, Tencent's advertising revenue also grew, benefiting from a recovery in the online advertising market. The company's strategic focus on enhancing its gaming portfolio and expanding into new markets has positioned it well for continued growth, despite ongoing regulatory scrutiny in China.
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