China's Tencent posts forecast-beating Q1 revenue on gaming growth / Photo: © AFP/File
-
Afghan mobile access to Facebook, Instagram intentionally restricted: watchdog
-
Medvedev to face De Minaur in Shanghai quarter-finals
-
Conceicao named as new coach of Al Ittihad
-
Victoria Beckham reveals struggle to reinvent herself in Netflix series
-
'Solids full of holes': Nobel-winning materials explained
-
Iran releases Franco-German accused of spying
-
Gisele Pelicot urges accused rapist to 'take responsibility'
-
BBVA, Sabadell clash heats up ahead of takeover deadline
-
World economy not doing as badly as feared, IMF chief says
-
Veggie 'burgers' face the chop as EU lawmakers back labeling ban
-
Former FBI chief James Comey pleads not guilty in case pushed by Trump
-
Germany raises growth forecasts, but warns reforms needed
-
Serie A chief blasts Rabiot's criticism of Milan match in Australia
-
From refugee to Nobel: Yaghi hails science's 'equalising force'
-
De Minaur, Auger-Aliassime through to Shanghai quarter-finals
-
Canal Istanbul stirs fear and uncertainty in nearby villages
-
Root backs England to end Ashes drought in Australia
-
British PM Starmer hails India opportunities after trade deal
-
England captain Kane could miss Wales friendly
-
Tennis increases support for players under corruption, doping investigation
-
Russia says momentum from Putin-Trump meeting 'gone'
-
EU wants key sectors to use made-in-Europe AI
-
De Minaur, Rinderknech through to Shanghai quarter-finals
-
Gisele Pelicot says 'never' gave consent to accused rapist
-
Thousands stranded as record floods submerge Vietnam streets
-
Sabalenka battles to keep Wuhan record alive, Pegula survives marathon
-
Trio wins chemistry Nobel for new form of molecular architecture
-
Tarnished image and cheating claims in Malaysia football scandal
-
Family affair as Rinderknech joins Vacherot in Shanghai quarters
-
New documentary shows life in Gaza for AFP journalists
-
Tennis stars suffer, wilt and quit in 'brutal' China heat
-
Wildlife flee as floods swamp Indian parks
-
Record flooding hits Vietnam city, eight killed in north
-
Battling cancer made Vendee Globe win 'more complicated', says skipper Dalin
-
England, Portugal, Norway closing in on 2026 World Cup
-
Child protection vs privacy: decision time for EU
-
Bear injures two in Japan supermarket, man killed in separate attack
-
In Simandou mountains, Guinea prepares to cash in on iron ore
-
Morikawa says not to blame for 'rude' Ryder Cup fans
-
Far right harvests votes as climate rules roil rural Spain
-
'Return to elegance': highlights from Paris Fashion Week
-
Britain's storied Conservative party faces uncertain future
-
New Zealand's seas warming faster than global average: report
-
Snakebite surge as Bangladesh hit by record rains
-
Yankees deny Blue Jays playoff sweep as Mariners beat Tigers
-
Australia police foil 'kill team' gang hit near daycare centre
-
US, Qatar, Turkey to join third day of Gaza peace talks in Egypt
-
Gold tops $4,000 for first time as traders pile into safe haven
-
Indian garment exporters reel under US tariffs
-
NBA back in China after six-year absence sparked by democracy tweet
NYSE - LSE
| RBGPF | -1.4% | 77.14 | $ | |
| RYCEF | -1.24% | 15.35 | $ | |
| CMSC | 0.34% | 23.82 | $ | |
| RELX | 0.73% | 45.775 | $ | |
| RIO | 1.92% | 67.545 | $ | |
| BTI | -1% | 51.467 | $ | |
| NGG | -0.49% | 73.52 | $ | |
| GSK | 0.29% | 43.625 | $ | |
| BP | -0.81% | 34.69 | $ | |
| AZN | -0.33% | 85.584 | $ | |
| VOD | 0% | 11.27 | $ | |
| SCS | 0.12% | 16.88 | $ | |
| CMSD | -0.12% | 24.371 | $ | |
| BCC | 1.09% | 75.34 | $ | |
| BCE | -0.71% | 23.125 | $ | |
| JRI | 0.41% | 14.128 | $ |
China's Tencent posts forecast-beating Q1 revenue on gaming growth
Chinese internet giant Tencent on Wednesday reported a better-than-expected increase in first-quarter revenue, propelled by growth in gaming as the firm's strategic drive into artificial intelligence deepens.
Shenzhen-based Tencent is the operator of China's multifunctional app WeChat and a major player in the global gaming industry.
The firm also has a presence in cloud computing, entertainment and AI -- the latter of which has seen a boost in interest among Chinese tech giants following the shock release of advanced chatbot DeepSeek this year.
Tencent's revenue in the three months ended March 31 was 180.0 billion yuan ($25.0 billion), a filing to the Hong Kong Stock Exchange showed, up 13 percent compared to the same period last year.
The figure came in slightly higher than a Bloomberg estimate of 175.7 billion yuan.
In a breakdown of sales, Tencent said that revenue from domestic games increased 24 percent year-on-year, while international games saw a 23 percent rise.
Net profits also charted a moderate increase during the first quarter, the results showed, jumping 14 percent year-on-year to reach 47.8 billion yuan.
"AI capabilities already contributed tangibly to our businesses, such as performance advertising and evergreen games," the firm said in a statement.
Tencent added that it has ramped up spending on "new AI opportunities", including integrated features within the WeChat app.
Chinese tech giants have been funnelling resources into the competitive field of AI since the release of DeepSeek's chatbot in January.
The little-known Chinese company caused a global stir because it appeared to have developed the chatbot at a fraction of the price of Western industry leaders such as the United States's OpenAI.
Tencent this year began trialling its own AI model which it says can outpace DeepSeek.
Tencent was among the tech firms caught up in a sweeping domestic crackdown that began in 2020 with officials calling off the massive, planned listing of Alibaba-linked fintech company Ant Group.
Beijing has signalled renewed friendliness toward tech firms in recent months, but broad restrictions on video game access for minors still stand.
T.Ziegler--VB