Tencent Holdings' fourth quarter revenue was 172.4 billion yuan, with a net adjusted profit of 55.3 billion yuan

On the afternoon of March 19th, Tencent Holdings (HKEX: 00700) released its Q4 and full year financial report for 2024 as of December 31st. In the fourth quarter, revenue was 172.4 billion yuan, a year-on-year increase of 11%. The profit attributable to equity holders was 51.3 billion yuan, a year-on-year increase of 90%. Under non International Financial Reporting Standards, the profit attributable to equity holders was 55.3 billion yuan, a year-on-year increase of 30%.

In 2024, the total revenue was 660.3 billion yuan, a year-on-year increase of 8%. The profit attributable to equity holders was 194.1 billion yuan, a year-on-year increase of 68%. Under non International Financial Reporting Standards, the profit attributable to equity holders was RMB 222.7 billion, a year-on-year increase of 41%.

Fourth quarter business data:

In the fourth quarter, the value-added service business revenue was 79 billion yuan, a year-on-year increase of 14%. Among them, the international market game revenue was 16 billion yuan, a year-on-year increase of 15%; Local gaming revenue reached 33.2 billion yuan, a year-on-year increase of 23%; Social networking revenue reached 29.8 billion yuan, a year-on-year increase of 6%.

In the fourth quarter, the marketing service business revenue was 35 billion yuan, a year-on-year increase of 17%.

In the fourth quarter, the revenue of fintech and enterprise services business was 56.1 billion yuan, a year-on-year increase of 3%.

2024 Business Data:

In 2024, the value-added service business revenue was 319.2 billion yuan, a year-on-year increase of 7%. Among them, the international market game revenue was 58 billion yuan, a year-on-year increase of 9%; Local gaming revenue reached 139.7 billion yuan, a year-on-year increase of 10%; Social networking revenue reached 121.5 billion yuan, a year-on-year increase of 2%.

In 2024, the marketing service business revenue was 121.4 billion yuan, a year-on-year increase of 20%.

In 2024, the revenue of financial technology and enterprise services business will be 212 billion yuan, a year-on-year increase of 4%.

Operational data:

As of December 31, 2024, the combined monthly active accounts of WeChat and WeChat reached 1.385 billion, a year-on-year increase of 3%;

The monthly active accounts on QQ mobile terminals were 524 million, a year-on-year decrease of 5%;

The number of registered accounts for paid value-added services reached 262 million, a year-on-year increase of 7%.

The number of paid members for long videos has reached 113 million.

The number of paid music members has reached 121 million.

Other key points:

In 2024, Tencent provided significant capital returns to shareholders by distributing cash dividends of HKD 3.40 per share (approximately HKD 32 billion) and repurchasing shares worth approximately HKD 112 billion.

In 2025, Tencent plans to increase its annual dividend by 32% to HKD 4.50 per share (approximately HKD 41 billion) and plans to repurchase at least HKD 80 billion worth of shares.

In 2024, Tencent Group's R&D expenses amounted to 70.686 billion yuan, compared to 64.078 billion yuan in 2023. Among them, employee welfare expenses amounted to 56.061 billion yuan, compared to 52.416 billion yuan in 2023.

In 2024, Tencent Group's investment income reached 4.187 billion yuan, while in 2023 it incurred a loss of 6.09 billion yuan.