---
title: "In the first three quarters, Tencent's profit attributable to equity holders was RMB 142.749 billion, a year-on-year increase of 62%, with strong growth in gaming revenue"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/219539000.md"
description: "Tencent Holdings released its performance for the period ending September 30, 2024, with a profit attributable to equity holders of RMB 142.749 billion for the first three quarters, a year-on-year increase of 62%. Revenue was RMB 487.811 billion, a year-on-year increase of 7%; gross profit was RMB 258.593 billion, a year-on-year increase of 20%. In the third quarter, revenue was RMB 167.193 billion, a year-on-year increase of 8%; gross profit was RMB 88.828 billion, a year-on-year increase of 16%. The gaming business performed strongly, with domestic gaming revenue increasing by 14% year-on-year to RMB 37.3 billion, and international gaming revenue increasing by 9% year-on-year to RMB 14.5 billion. Revenue from social networking and marketing services also saw growth"
datetime: "2024-11-13T08:44:05.000Z"
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---

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# In the first three quarters, Tencent's profit attributable to equity holders was RMB 142.749 billion, a year-on-year increase of 62%, with strong growth in gaming revenue

According to the Zhitong Finance APP, Tencent Holdings (00700) released its performance for the three months and nine months ending September 30, 2024. The group achieved revenue of RMB 487.811 billion in the first three quarters, an increase of 7% year-on-year; gross profit was RMB 258.593 billion, an increase of 20% year-on-year; profit attributable to equity holders of the company was RMB 142.749 billion, an increase of 62% year-on-year; basic earnings per share were RMB 15.346.

In the third quarter of 2024, revenue reached RMB 167.193 billion, an increase of 8% year-on-year; gross profit was RMB 88.828 billion, an increase of 16% year-on-year; profit attributable to equity holders of the company was RMB 53.23 billion, an increase of 47% year-on-year; basic earnings per share were RMB 5.762.

Among them, the revenue from value-added services in the third quarter of 2024 grew by 9% year-on-year to RMB 82.7 billion. International market game revenue was RMB 14.5 billion, a year-on-year increase of 9% (or an increase of 11% at constant exchange rates), driven by strong performances from games including PUBG MOBILE and Brawl Stars. The growth rate of international market game revenue significantly lagged behind the overall revenue growth due to improved retention rates for some games, leading the group to extend the revenue deferral period accordingly. Domestic market game revenue grew by 14% year-on-year to RMB 37.3 billion, benefiting from games such as Valorant, Honor of Kings, Peacekeeper Elite, and Dungeon & Fighter: Origin. Social network revenue increased by 4% year-on-year to RMB 30.9 billion, driven by growth in mobile game virtual item sales, music subscription revenue, and mini-game platform service fees, partially offset by declines in music live streaming and game live streaming service revenue.

Marketing services revenue in the third quarter of 2024 grew by 17% year-on-year to RMB 30 billion, benefiting from strong demand from advertisers for video accounts, mini-programs, and WeChat search advertising inventory, as well as a modest contribution from brand advertising related to the Paris Olympics. Advertising spending in the gaming and e-commerce industries increased year-on-year, surpassing reductions in spending from the real estate and food and beverage industries.

Revenue from financial technology and enterprise services in the third quarter of 2024 grew by 2% year-on-year to RMB 53.1 billion. Overall, financial technology service revenue remained stable compared to the same period last year, with wealth management service revenue increasing year-on-year due to an expanded user base and growth in client asset holdings, while payment service revenue declined due to weak consumer spending. Revenue from enterprise services increased year-on-year, driven by growth in cloud service revenue and merchant technology service fees.

The announcement stated that in the third quarter of 2024, the group's game business revenue achieved strong growth, benefiting from the robust performance of evergreen games globally and contributions from new games with evergreen potential. The group upgraded its transaction platform strategy around WeChat Mini Stores, aiming to create a unified and trustworthy transaction experience based on the entire WeChat ecosystem. The group continues to deploy AI in products and operations, including marketing services and cloud services, with increasingly visible benefits. The group will continue to invest in AI technologies, tools, and solutions to serve users and partners

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- [TENCENT-R (80700.HK)](https://longbridge.com/zh-CN/quote/80700.HK.md)
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- [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/zh-CN/quote/TCTZF.US.md)
- [TENCENT (00700.HK)](https://longbridge.com/zh-CN/quote/00700.HK.md)

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