Tencent Holdings has recorded a notable fourth-quarter revenue increase of 11%, primarily driven by advancements in its gaming sector. The company also announced a $10 billion for shares buyback program.
As the leading force in global video games and the operator of WeChat, Tencent achieved revenue figures reaching 172.4 billion yuan ($23.83 billion) for the concluding quarter of the year. This performance surpassed the consensus expectation of 168.9 billion yuan projected by analysts surveyed by LSEG.
The company’s net profit hit an impressive 51.3 billion yuan, significantly above the anticipated 46.3 billion yuan. Easing regulatory pressures within China’s gaming industry have underpinned Tencent’s growth, reversing the effects of past stringent measures. Since mid-2024, the firm has bolstered its portfolio with successful launches such as “Dungeon & Fighter Mobile” and the “Delta Force” for several platforms, which invigorates its revenue streams.
Adding to its strategic financial maneuvering, Tencent’s board has sanctioned a fresh $10 billion share buyback initiative that will span 24 months, commencing in March 2025. This follows the culmination of a previous $500 million buyback completed in March 2023.
