Tencent: Tencent Announces 2021 First Quarter Results
1Q2021
Total r
[2]), an increase of 25% over the first quarter of 2020 ( YoY ).
On a non-IFRS basis
, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
Operating profit was RMB42.8 billion (USD6.5 billion), an increase of 20% YoY. Operating margin decreased to 32% from 33% last year.
Profit for the period was RMB34.5 billion (USD5.3 billion), an increase of 23% YoY. Net margin remained stable at 26%.
Profit attributable to equity holders of the Company for the quarter was RMB33.1 billion (USD5.0 billion), an increase of 22% YoY.
Basic earnings per share were RMB3.481.
Diluted earnings per share were RMB3.415.
VCG via Getty Images
Tencent pledged to sharply increase investments this year after posting a 25% gain in quarterly revenue, aiming to sustain its pandemic-era boom in gaming and cloud.
The giant announced a pipeline of more than 40 new mobile and PC titles during its annual game showcase Sunday.
Shares of Naspers and its unit Prosus, Tencent’s largest shareholders, rose more than 3% after Tencent’s earnings.
Tencent pledged to sharply increase investments this year after posting a 25% gain in quarterly revenue, aiming to fend off ByteDance and sustain its pandemic-era boom in gaming and cloud.
China’s three largest tech corporations are vying to entice users in the fast-growing arenas of online grocery and video. Tencent said Thursday it plans to invest a larger portion of its incremental profits this year in areas including cloud services, games and shortform video content, joining Alibaba and Meituan in pledging to boost spending.
Tencent Joins Alibaba in Spending Spree as Competition Heats Up
Bloomberg 1 hr ago Zheping Huang
(Bloomberg) Tencent Holdings Ltd. pledged to sharply increase investments this year after posting a 25% gain in quarterly revenue, aiming to fend off ByteDance Ltd. and sustain its pandemic-era boom in gaming and cloud.
Popular Searches
China’s three largest tech corporations are vying to entice users in the fast-growing arenas of online grocery and video. Tencent said Thursday it plans to invest a larger portion of its incremental profits this year in areas including cloud services, games and shortform video content, joining Alibaba Group Holding Ltd. and Meituan in pledging to boost spending. Tencent is trying to sustain growth in revenue, which climbed to 135.3 billion yuan ($21 billion) in the three months ended March, roughly in line with analyst estimates.
/PRNewswire/ Tencent Holdings Limited ("Tencent" or the "Company", 00700.HK), a leading provider of Internet value added services in China, today announced.