Tencent Tears Through Expectations

Tencent's financial results for the third quarter of 2024 show impressive gains. The tech giant's net profit jumped by 47%, reaching 53.23 billion yuan, or about $7.36 billion.

This surpasses what analysts expected and highlights Tencent's solid performance.

Revenue is up too, increasing by 8% to 167.2 billion yuan, which was in line with what the company anticipated. This growth is backed by a 51% rise in earnings per share, underscoring Tencent's strong financial position.

A lot of this success comes from its gaming division, with popular titles like "Dungeon & Fighter" and "Black Myth: Wukong" driving the profits.

Even in a tough economic climate, Tencent stays strong in gaming, maintaining its stature as a top game publisher and supporter in China.

However, the company still struggles with launching successful new franchises and remains cautious about spending during these economically uncertain times.