Tencent, the Chinese tech giant and owner of WeChat, reported impressive fourth-quarter results for 2024, exceeding estimates in revenue at 172.4 billion yuan and profit at 51.3 billion yuan. The rise was fueled by an 11% year-on-year revenue increase and a staggering 90% jump in profits, driven by robust gaming revenues, especially in domestic markets with a 23% increase. Tencent is also significantly investing in artificial intelligence, launching models that advance its tech capabilities, highlighting the competitive dynamics in China's tech sector as it adapts to challenges.
Tencent's revenue surged in Q4 2024, driven by gaming and advertising growth, showcasing its dominance in the gaming sector and a significant AI push.
The remarkable 90% increase in profit and 11% year-on-year revenue growth underscores Tencent's resilience in the competitive gaming and tech landscape.
Tencent's international games revenue growth reflects its strategic focus on expansion beyond China amid a slower domestic market and regulatory challenges.
The launch of advanced AI models like Hunyuan3D-2.0 positions Tencent as a leader in the AI space, essential for future tech competition in China.
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