经调整净利润553.12亿元，同比增长30%；
On March 19, Futu News reported that Tencent announced its performance for the fourth quarter and the whole year ending December 31, 2024. The Earnings Reports show that all performance Indicators for Tencent in Q4 exceeded Bloomberg's consensus expectations, including:
Revenue of 172.446 billion yuan (RMB, the same below), a year-on-year increase of 11%;
Net income of 51.324 billion yuan, a year-on-year increase of 90%;
Adjusted Net income is 55.312 billion yuan, a year-on-year increase of 30%;Basic earnings per share is 5.597 yuan, diluted earnings per share is 5.485 yuan, both up 95% year-on-year;
Adjusted basic earnings per share is 6.032 yuan, and adjusted diluted earnings per share is 5.909 yuan, both showing a year-on-year increase of 33%.
Looking at the specific revenue segments:
Value-Added Services Business
The revenue from TENCENT's Value-Added Services Business in Q4 2024 increased by 14% year-on-year to RMB 79 billion. Revenue from international market games was RMB 16 billion, a year-on-year increase of 15% (an increase of 16% calculated at fixed exchange rates), attributed to the strong performance of "Brawl Stars" and "PUBG MOBILE" as well as the release of the early access version of "Path of Exile 2."
Revenue from the domestic game market increased by 23% year-on-year to RMB 33.2 billion, benefiting from: the low base effect from the same period last year; an increase in revenue from major games such as "Honor of Kings," "Peace Elite," and "Valorant;" and the revenue contributions from recently released games "Dungeon & Fighter: Origin" and "Delta Operation."
Social network revenue increased by 6% year-on-year to 29.8 billion yuan, mainly due to the growth in mobile game virtual item sales, paid music membership income, and service fees from mini-game platforms.
Marketing Services Business
In Q4 2024, TENCENT's Marketing Services Business revenue grew by 17% year-on-year to 35 billion yuan, driven by strong demand from advertisers for advertising inventory on video accounts, mini-programs, and WeChat search. Advertising spending in most key industries saw an increase this season.
CNI Xiangmi Lake Fintech Index and Enterprise Services Business
In Q4 2024, TENCENT's CNI Xiangmi Lake Fintech Index and Enterprise Services Business revenue increased by 3% year-on-year to 56.1 billion yuan. The growth in fintech service revenue was due to increases in wealth management services and consumer loan service income, while commercial payment service revenue remained relatively stable year-on-year. The growth in enterprise service revenue was driven by increases in merchant technology service fees and enterprise WeChat income.
Regarding capital expenditures: The company's capital expenditure related to AI project development in the fourth quarter is 39 billion yuan.
In the fourth quarter of 2024, TENCENT generatedfree cash flow.a net cash flow from operating activities of 54 billion yuan, offset by capital expenditures of 39 billion yuan related to the company's AI project development, media content payments of 8.5 billion yuan, and lease liability payments of 2 billion yuan.
Regarding the buyback: There are plans to repurchase at least 80 billion Hong Kong dollars worth of shares in 2025.
In 2024, TENCENT provided substantial capital returns to shareholders by distributing cash dividends of HK$3.40 per share (approximately HK$32 billion) and repurchasing shares worth about HK$112 billion. In 2025, the company proposed to increase the annual dividend by 32% to HK$4.50 per share (approximately HK$41 billion) and planned to repurchase at least HK$80 billion worth of shares.
Original announcement link:TENCENT's performance in Q4 2024
Click to make an appointment:Tencent 2024 Q4 and full year earnings live broadcast (real-time interpretation)
Editor/lambor
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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