Tencent (Stock Codes: 700 HKD, 80700 RMB) Announces Q3 and Nine-Month 2025 Results

Bulletin Express
Yesterday

According to the latest announcement, Tencent reported a 15% year-on-year increase in revenues for the third quarter of 2025, reaching RMB192.87 billion. Gross profit rose 22% year-on-year to RMB108.80 billion, and profit for the period climbed 20% year-on-year to RMB64.94 billion. Profit attributable to equity holders grew 19% year-on-year to RMB63.13 billion, with an EPS of RMB6.952 (basic). Non-IFRS profit attributable to equity holders was up 18% year-on-year at RMB70.55 billion.

For the nine months ended 30 September 2025, total revenues reached RMB557.40 billion, a 14% year-on-year increase. Gross profit amounted to RMB314.30 billion, up 22%, while profit attributable to equity holders of the Company rose 17% year-on-year to RMB166.58 billion. The announcement highlighted that core drivers of this performance included growth in domestic and international games, higher advertising sales, and steady gains in FinTech and business services.

Segment-wise, Value-Added Services (VAS) revenues were RMB95.86 billion in the third quarter, up 16% year-on-year, driven by domestic games such as Honour of Kings, Peacekeeper Elite, and recently released titles like Delta Force and VALORANT MOBILE. Marketing Services revenues were RMB36.24 billion, a 21% year-on-year rise, supported by increased ad impressions and AI-assisted targeting. FinTech and Business Services revenues grew 10% year-on-year to RMB58.17 billion, attributed to higher commercial payment volumes and cloud services demand.

Key operating metrics showed combined MAU for Weixin and WeChat at 1,414 million as of 30 September 2025, a 2% year-on-year increase, while mobile QQ saw 517 million MAU in the same period. Fee-based VAS subscriptions were 265 million on average, and Tencent reported strong performance from recent AI initiatives and growing traction for its HunYuan foundation model in areas such as ads and game engagement.

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