2024-07-10 07:44:09 ET
Summary
- Tencent's 1Q24 results exceeded expectations, with revenue up 6% and adjusted net profit growing 54%.
- The beat in gross profit margin, driven by high-margin businesses like mini-games and video accounts, contributed to the strong performance.
- The games segment showed positive momentum, with domestic game grossing and international games both experiencing growth.
- The consistent share repurchase execution also provides a nice shareholder return and price support if necessary.
Tencent Holdings ( TCEHY ) recently reported its 1Q24 results which surpassed expectations.
For those new to Tencent, the company is a leading Internet company in China engaged in multiple business lines including online games, social networking services, online advertising, and mobile value-added services....
Read the full article on Seeking Alpha
For further details see:
Tencent: Positive Medium-Term Outlook