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 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.
