第一上海证券:腾讯控股AI提效加速渗透 生态扩张驱动Q3稳健增长

第一上海
Nov 19

2025Q3 业绩稳健增长,AI 提效与生态扩张共同驱动:得益于视频号、小程序、搜一搜等核心生态场景的持续扩张,以及游戏、广告与金融科技三大业务条线的同步改善,2025Q3 公司录得收入1930 亿元人民币,同比增长15%,环比增长5%;毛利1088 亿元,同比增长22%,毛利率受益于高质量广告库存与游戏内容结构优化,较去年同期进一步提升。Non-IFRS 归母净利润706 亿元,同比增长18%,...

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