1. Upcoming Financial Results Release Date TENCENT (00700.HK) will announce its Q3 2025 financial results on November 13, 2025.
2. TENCENT's Third Quarter Performance Expectations As of September 21, 2025, based on quarterly performance outlook data: revenue is projected at RMB 183.23-192.20 billion, representing a year-over-year growth of 9.6%-15.0%; net profit is forecast at RMB 51.36-60.07 billion, with year-over-year changes ranging from -3.5% to 12.8%; adjusted net profit is expected at RMB 59.15-72.70 billion, with year-over-year changes of -1.1% to 21.5%. Attention will focus on whether subsequent financial report data can exceed expectations, as quarterly performance outlook data will provide performance benchmarking for investors.
3. Latest Analyst Views on TENCENT Securities analysts believe that TENCENT achieved better-than-expected performance in the second quarter, with revenue growing 15% year-over-year and 2% quarter-over-quarter to RMB 184.5 billion. Adjusted operating profit increased 18% year-over-year and remained flat quarter-over-quarter at RMB 69.2 billion, with an operating margin of 37.5%. The gaming business showed strong growth momentum in both domestic and international markets, with domestic games growing 17% year-over-year and international games surging 35% year-over-year. Advertising business revenue increased 20% year-over-year and 12% quarter-over-quarter to RMB 35.8 billion, with AI technology applications improving click-through rates and advertising demand. FinTech and Business Services revenue grew 10% year-over-year to RMB 55.5 billion. Overall gross margins improved across all business lines, primarily benefiting from adjusted mix of self-developed games, rapid growth of high-margin businesses, and continued cost optimization. TENCENT's operating margin is expected to maintain a healthy trend.
By business segment: 1) Gaming Business: Domestic games grew 17% year-over-year, international games grew 35% year-over-year, with Valorant Mobile's launch expected to generate approximately RMB 6 billion in annual revenue. 2) Advertising Business: Revenue grew 20% year-over-year, with AI technology improving click-through rates and advertising demand, expecting the advertising business to maintain long-term growth potential. 3) FinTech and Business Services: Revenue grew 10% year-over-year, with business services revenue expected to maintain at least the growth momentum from the second quarter.
Other analysts noted that TENCENT's Q2 2025 results showed company revenue reaching RMB 184.5 billion, up 15% year-over-year, with gross margin improving to 57%. Non-GAAP net profit attributable to shareholders was approximately RMB 63.1 billion, up 10% year-over-year. All business segments showed growth, including value-added services revenue of RMB 91.4 billion, advertising revenue of RMB 35.8 billion, and FinTech and enterprise services revenue of RMB 55.5 billion. Gaming business performed strongly, particularly with "Delta Force" DAU exceeding 20 million. Advertising business grew 20%, benefiting from AI technology and WeChat ecosystem iterations. WeChat and AI became key growth drivers, boosting social advertising and enterprise services revenue.
(Note: All profit forecast data in this article comes from earnings forecast databases)
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