CHART: Tencent reports 11% revenue growth in Q2 2023
Total quarterly revenue for Chinese social media app operator and the world's largest gaming business, Tencent, reached an impressive CN¥149.2 billion (US$20.5 billion), 11% up from 134 billion yuan in the corresponding period the previous year. However, this performance was below the consensus estimate
Total quarterly revenue for Chinese social media app operator and the world's largest gaming business, Tencent, reached an impressive CN¥149.2 billion (US$20.5 billion), 11% up from 134 billion yuan in the corresponding period the previous year.
However, this performance was below the consensus estimate of CN¥ 152 billion projected by analysts surveyed by Bloomberg.
The internet powerhouse posted a net profit of CN¥26.2 billion in Q2 2023, a robust 41% increase from the CN¥18.6 billion realized same period a year ago, as the chart by Techloy below shows. Despite this growth, the figure also missed the Bloomberg consensus estimate of CN¥32.3 billion.
