Tencent’s first-quarter revenue grew 9% year-over-year but fell short of analyst forecasts of 199 billion yuan.
Tencent reported a 9% year-over-year increase in first-quarter revenue to 196.5 billion yuan ($28.9 billion), missing analyst expectations of 199 billion yuan. The company cited growth in gaming and AI-driven demand as key drivers for the period.
Revenue growth was supported by higher engagement in core businesses, though the print lagged consensus estimates. Tencent’s chairman highlighted progress in AI product development and its role in expanding existing operations.
The results reflect ongoing investments in AI, funded by cash flow from core segments, while revenue performance underscores mixed market sentiment.