CnTechPost CnTechPost
  • Home
  • Contact
  • About
  • CnEVPost
  • Newsletter
  • Home
  • Contact
  • About
  • CnEVPost
  • Newsletter

Tencent's Q4 revenue up 26% year-on-year to RMB 133.67 billion, in line with expectations

Tom KangMarch 24, 2021

Chinese tech giant Tencent's fourth-quarter revenue rose 26 percent year-on-year to RMB 133.67 billion ($20.5 billion), in line with market expectations, according to the company's earnings report released on Wednesday.

Tencent's gross profit rose 28 percent year-on-year to RMB 58.88 billion in the fourth quarter, while non-IFRS net profit was RMB 33.21 billion, up 30 percent year-on-year.

Tencent's value-added services business grew 28% year-on-year to RMB 67 billion in the fourth quarter, accounting for 50% of revenue. Social networking revenue increased 27% to RMB 27.9 billion.

Tencent's online gaming revenue grew 29% to RMB 39.1 billion, below analyst estimates of RMB 39.74 billion, with overseas gaming revenue up 43% year-on-year to RMB 9.8 billion.

Tencent's online advertising business grew 22% to RMB 24.7 billion in the fourth quarter, beating market estimates of RMB 23.93 billion.

Social and other advertising revenue grew 25% to RMB 20.4 billion, while media advertising revenue increased 8% to RMB 4.3 billion.

In the fourth quarter, Tencent's financial technology and enterprise services business grew 29% year-on-year to RMB 38.5 billion, while another net revenue was RMB 32.9 billion.

In the fourth quarter, Tencent's capital expenditures were RMB 9.66 billion, down 43% year-on-year. Free cash flow was RMB 27.66 billion, a decrease of 11% year-on-year.

At the end of the fourth quarter, the fair value of Tencent's interests in listed investment companies totaled RMB 120.49 billion.

Tencent's full-year revenue increased 28% year-on-year to RMB 482.06 billion and gross profit increased 32% to RMB 221.53 billion.

The company's full-year operating profit grew 55% to RMB 184.24 billion and non-GAAP net profit was RMB 122.74 billion, up 30% year-on-year.

More than 400 million people used WeChat Mini Programs every day last year, and GMV grew more than 100 percent year-on-year, Tencent said.

Tencent said its VooV Meeting became the largest online meeting app in China, and WeChat Enterprise served more than 5.5 million enterprise customers.

Tencent's R&D staff now accounts for 68% of its workforce

Tencent's Q4 revenue up 26% year-on-year to RMB 133.67 billion, in line with expectations-CnTechPost

  • Twitter
  • Facebook
  • Reddit
  • LinkedIn
  • WhatsApp
  • Pocket
  • More
  • Telegram
  • Email
  • Pinterest
  • Tumblr
  • Skype
#Financial Report#Tencent
0
Share
Tom Kang Special Author
Posts 182Comments 0
Comments (0)
Back
    Be the first to comment.
Follow CnTechPost:
  • twitter
  • facebook
  • telegram
  • mail
Popular Posts
TOP1
China's latest breakthrough lays foundation for heavy-lift launch vehicle development
March 20, 2021
TOP2
Xiaomi becomes China's largest smartphone maker, Huawei drops to fourth place
April 2, 2021
TOP3
Chinese firm says its high-end etching equipment already used in customer's 5nm chip production line
April 6, 2021
TOP4
Bilibili caught copying Baidu in Hong Kong secondary listing material
March 26, 2021
TOP5
Loongson unveils in-house developed instruction set architecture LoongArch in historic breakthrough
April 15, 2021
Recent Posts
  • Douyin aims to reach 680 million daily active users this year Apr 16, 2021
  • Huawei removes free chargers and cables for some phones Apr 16, 2021
  • Fearing driver chip shortage, Xiaomi, OPPO, Vivo reportedly snapping up Samsung OLED displays ahead of schedule Apr 16, 2021
  • Luckin Coffee signs investment deal with two shareholders Apr 15, 2021
  • Loongson unveils in-house developed instruction set architecture LoongArch in historic breakthrough Apr 15, 2021
  • Home
  • Tech
  • China Tech
  • Gadgets
  • Software
  • Crypto
  • Cars
  • 5G
  • Compliance Services
  • About
  • Contact Us
  • Privacy Policy
  • Newsletter
Copyright © 2019-2021 CnTechPost. Designed by CnTechPost.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.