Futu News reported on May 14, $TENCENT (00700.HK)$ announcing the performance for the first quarter of 2025, the Earnings Reports show:
Revenue was 180.022 billion yuan (RMB, the same below), a year-on-year increase of 13%;
Net income was 47.821 billion yuan, a year-on-year increase of 14%;
Adjusted net income was 61.329 billion yuan, a year-on-year increase of 22%.Earnings per share were 5.252 yuan, a year-on-year increase of 17%;
Earnings per share under non-International Financial Reporting Standards were 6.735 yuan, a year-on-year increase of 25%.
Looking at the specific revenue segments:
Value-Added Services Business
In the first quarter of 2025, revenues grew by 17% year-on-year to 92.1 billion yuan. Domestic game revenues reached 42.9 billion yuan, representing a 24% year-on-year growth from last year's low base, thanks to revenue growth from "Honor of Kings" and "Game for Peace," as well as contributions from the recently released "Dungeon & Fighter: Origins" and "Operation Delta." International game revenues were 16.6 billion yuan, showing a 23% year-on-year increase (a 22% increase when calculated at constant Exchange Rates), due to revenue growth from "Brawl Stars," "Clash of Clans: Royale," and "PUBG MOBILE." Social network revenues increased by 7% year-on-year to 32.6 billion yuan, bolstered by growth in mobile game virtual item sales, music subscription revenues, and mini-game platform service fees.
Marketing Services Business
In the first quarter of 2025, revenues grew by 20% year-on-year to 31.9 billion yuan. This growth was primarily driven by strong demand from advertisers for video accounts, mini-programs, and WeChat search ad inventory, benefiting from increased user engagement, continuous AI upgrades on the advertising platform, and optimization of the WeChat trading ecosystem. This quarter saw an increase in Marketing Services revenue from most key industries.
CNI Xiangmi Lake Fintech Index and Enterprise Services Business
In the first quarter of 2025, revenues grew by 5% year-on-year to 54.9 billion yuan. The growth in CNI Xiangmi Lake Fintech Index service revenue was due to an increase in consumer loan services and wealth management services revenue. The growth in enterprise services revenue was driven by increases in Cloud Computing Service revenue and technical service fees for merchants.
Regarding the share repurchase.
As of the three months ending March 31, 2025, the company repurchased a total of 42,984,000 shares at an approximate total cost of 17.1 billion HKD (excluding expenses) on the Stock Exchange. The repurchased shares have since been canceled. The purpose of the buyback is to enhance shareholder value in the long run.
Announcement documents:Performance announcement for the three months ending March 31, 2025.
Editor/jayden
