--- title: "Tencent Quarterly Report Illustrated: Revenue of 194.4 billion, adjusted net profit of 66.7 billion, and dividends exceeding 40 billion" type: "News" locale: "en" url: "https://longbridge.com/en/news/279580682.md" description: "Tencent Holdings announced its 2025 financial report, with revenue of 751.8 billion yuan, a year-on-year increase of 14%. Revenue for the fourth quarter was 194.4 billion yuan, with an operating profit of 60.3 billion yuan and a net profit of 66.7 billion yuan. Both gross profit and operating profit achieved growth, with the cloud business benefiting from AI demand and achieving scalable profitability. The board of directors announced a dividend of HKD 5.30 per share, with total dividends expected to be approximately HKD 48.6 billion. Ma Huateng stated that AI technology has enhanced advertising targeting capabilities and cloud business revenue" datetime: "2026-03-18T10:50:27.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279580682.md) - [en](https://longbridge.com/en/news/279580682.md) - [zh-HK](https://longbridge.com/zh-HK/news/279580682.md) --- # Tencent Quarterly Report Illustrated: Revenue of 194.4 billion, adjusted net profit of 66.7 billion, and dividends exceeding 40 billion LeiDi Network, Lei Jianping, March 18 Tencent Holdings (Hong Kong Stock Exchange code: 00700 (HKD counter) and 80700 (RMB counter)) today announced its annual and fourth quarter financial report for 2025. The report shows that Tencent Holdings' revenue for 2025 was 751.8 billion yuan, an increase of 14% compared to 660.3 billion yuan in 2024. Tencent's gross profit for 2025 was 422.593 billion yuan, an increase of 21% compared to 349.246 billion yuan in the same period last year. Tencent's operating profit for 2025 was 241.562 billion yuan, an increase of 16% compared to 208.1 billion yuan in the same period last year; adjusted operating profit was 280.656 billion yuan, an increase of 18% compared to 237.8 billion yuan in the same period last year. Tencent's annual profit for 2025 was 229.8 billion yuan, an increase of 17% compared to 196.467 billion yuan in the same period last year; the profit attributable to equity holders of the company under non-International Financial Reporting Standards was 259.626 billion yuan, an increase of 17% compared to 222.7 billion yuan in the same period last year. Tencent's revenue for the fourth quarter of 2025 was 194.4 billion yuan, a year-on-year increase of 13%, with an operating profit of 60.3 billion yuan and a profit of 59.1 billion yuan; adjusted operating profit was 69.5 billion yuan, a year-on-year increase of 17%; profit was 66.7 billion yuan, a year-on-year increase of 18%. The financial report revealed that Tencent Cloud achieved scalable profitability, benefiting from the rising demand for enterprise AI, growth in contributions from PaaS and SaaS products, and optimization of the supply chain. In 2025, Tencent repurchased approximately 153.4 million shares at a total cost of about 80 billion Hong Kong dollars on the Hong Kong Stock Exchange. The Tencent Board announced a dividend of 5.30 Hong Kong dollars per share (4.50 Hong Kong dollars per share in 2024), and the proposed dividend is expected to be distributed on June 1, 2026, to shareholders listed on the company's shareholder register on May 20, 2026. Based on the current total share capital, the total dividend amount is estimated to be approximately 48.6 billion Hong Kong dollars (approximately 42.6 billion yuan) Tencent Chairman and CEO Ma Huateng stated: "In 2025, we maintained healthy growth, benefiting from AI technology that enhanced our advertising targeting capabilities and player interactions in games, as well as accelerated growth in cloud business revenue achieving scalable profitability." "Our core business is resilient and generates ample cash flow, supporting our increased investment in AI, including recruiting top AI talent and upgrading AI infrastructure. Our Hunyuan 3.0 large language model's intelligence level continues to improve, and AI products such as Yuanbao, WorkBuddy, and QClaw are generating practical utility. These encouraging early signs indicate that our investment in AI will open up new opportunities for us. People enjoy consumption and entertainment while also finding satisfaction in creation and efficient work. Tencent is honored to provide comprehensive AI services to empower users, helping them excel in these areas." Tencent Q4 revenue of 194.4 billion, a year-on-year increase of 13% Tencent's revenue for the fourth quarter of 2025 was 194.4 billion, an increase of 13% compared to 172.446 billion in the same period last year. Tencent's revenue from value-added services in the fourth quarter of 2025 was 89.9 billion, a year-on-year increase of 14%. Tencent's value-added service revenue includes two parts: game revenue and social network revenue, with game revenue further divided into domestic market game revenue and international market game revenue. Tencent is increasing its investment in AI and exploring new growth opportunities. The company continues to advance around large model capabilities and the AI product matrix: Hunyuan 3.0 will be released in April, and the "Little Lobster" series Agents such as WorkBuddy and QClaw are being launched successively, with user activity for AI applications like Yuanbao, ima, QQ Browser, and Sogou Input Method continuously increasing. Tencent Q4 game revenue of 59.3 billion, a year-on-year increase of 21% Tencent's game revenue for the fourth quarter of 2025 was 59.3 billion, an increase of 21% compared to 49.2 billion in the same period last year. Among them, Tencent's domestic market game revenue for the fourth quarter of 2025 was 38.2 billion, a year-on-year increase of 15%, benefiting from revenue growth from the "Delta Action" and "Valorant" series (PC and mobile) as well as incremental revenue contributions from "Mingchao." In the fourth quarter of 2025, Tencent's international market game revenue was 21.1 billion yuan, a year-on-year increase of 32% (31% at constant exchange rates), mainly due to revenue growth from games under Supercell and PUBG MOBILE, as well as incremental revenue contributions from Aito. In the fourth quarter of 2025, Tencent's social network revenue was 30.6 billion yuan, a year-on-year increase of 3%, reflecting growth in revenue from video account live streaming services and paid music membership income. Tencent's Q4 marketing services revenue was 41.1 billion yuan, a year-on-year increase of 17%. In the fourth quarter of 2025, Tencent's marketing services revenue was 41.1 billion yuan, an increase of 17% from 35 billion yuan in the same period last year, accounting for 21% of total revenue. In the fourth quarter of 2025, Tencent's financial technology and enterprise services revenue was 60.8 billion yuan, an increase of 8% from 56.125 billion yuan in the same period last year, accounting for 31% of total revenue. The growth in Tencent's financial technology service revenue in Q4 was mainly due to increased income from wealth management services and commercial payment activities. The year-on-year growth rate of enterprise service revenue increased to 22%, benefiting from increased revenue from cloud services in both domestic and overseas markets (including revenue from AI-related services), as well as growth in merchant technology service fees driven by the expansion of WeChat Mini Store transaction volume. Tencent's Q4 costs were 86.1 billion yuan, a year-on-year increase of 5%. In the fourth quarter of 2025, Tencent's costs were 86.1 billion yuan, an increase of 5% from 81.8 billion yuan in the same period last year. Tencent's Q4 gross profit was 108.3 billion yuan, with a gross profit margin of 56%. In the fourth quarter of 2025, Tencent's gross profit was 108.289 billion yuan, with a gross profit margin of 56% In the fourth quarter of 2025, Tencent's sales and marketing expenses amounted to 13 billion yuan, an increase of 26% compared to the same period last year, mainly due to increased promotional efforts to support the development of AI-native applications and games. In the fourth quarter of 2025, Tencent's general and administrative expenses were 36.3 billion yuan, a year-on-year increase of 16%, primarily due to increased employee costs and depreciation expenses related to AI investments. Tencent's Q4 operating profit was 60.3 billion yuan with an operating profit margin of 31%. In the fourth quarter of 2025, Tencent's operating profit was 60.3 billion yuan, with an operating profit margin of 31%; adjusted operating profit was 69.5 billion yuan. In the fourth quarter of 2025, Tencent's interest income was 4.8 billion yuan, a year-on-year increase of 22%, partly due to an increase in cash reserves. In the fourth quarter of 2025, Tencent's financial costs were 3.6 billion yuan, compared to 2.5 billion yuan in the same period last year, mainly due to exchange losses this quarter, compared to exchange gains in the same period last year. In the fourth quarter of 2025, Tencent's income tax expense was 12.5 billion yuan, a year-on-year increase of 7%. Tencent's Q4 net profit was 59.1 billion yuan, a year-on-year increase of 15%. In the fourth quarter of 2025, Tencent's net profit was 59.1 billion yuan, an increase of 15% from 51.5 billion yuan in the same period last year. In the fourth quarter of 2025, Tencent's profit attributable to equity holders of the company was 58.3 billion yuan, a year-on-year increase of 14%; profit attributable to equity holders of the company under non-IFRS was 64.7 billion yuan, a year-on-year increase of 17%. In the fourth quarter of 2025, Tencent's EBITDA was 80.357 billion yuan, adjusted EBITDA was 86.7 billion yuan, and adjusted EBITDA margin was 45% ——————————————— ### Related Stocks - [03033.HK](https://longbridge.com/en/quote/03033.HK.md) - [512380.CN](https://longbridge.com/en/quote/512380.CN.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) ## Related News & Research - [Don't use AI when emailing Paul Graham](https://longbridge.com/en/news/287659485.md) - [How to fix AI's branding problem, according to top marketers](https://longbridge.com/en/news/287767399.md) - [COLUMN- Lawyers, meet your AI 'twin'](https://longbridge.com/en/news/288047755.md) - [CertiK Launches AI Skill Scanner, An Antivirus Software for the AI Age](https://longbridge.com/en/news/287832378.md) - [The Best AI Stock to Buy Now for Less Than $500](https://longbridge.com/en/news/287354873.md)