Tencent's Q2 financial results showed a revenue increase of +8% to RMB 161.1 billion, surpassing analyst expectations slightly. Analysts remain optimistic, especially regarding the 19% increase in online advertising.
Despite beat expectations, FinTech revenue growth slowed in Q2, highlighting challenges in the sector with a mere low single-digit increase attributed to weak consumption spending.
With adjusted net income soaring by +53%, Tencent showcased strong performance amid mixed market reactions, reiterating confidence in their business strategies and market positioning, particularly in online advertising.
The buyback of 103.7 million shares at a hefty value reflects Tencent's commitment to enhancing shareholder value, alongside a significant increase in total cash and free cash flow.
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