BEIJING: Chinese internet giant Tencent announced on Wednesday (Aug 14) an 82 per cent surge in second-quarter net profit, its biggest jump since late 2020, after a resurgence in its gaming business.
A man walks outside the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China , Sep 2, 2022. BEIJING: Chinese internet giant Tencent announced on Wednesday an 82 per cent surge in second-quarter net profit, its biggest jump since late 2020, after a resurgence in its gaming business.
The Shenzhen-based company said in a filing to the Hong Kong Stock Exchange that net profit hit US$6.7 billion in April to June, compared with US$3.7 billion in the same period last year."Our second quarter 2024 results demonstrated the strengths of our platform plus content strategy," Tencent said in the filing.
That was driven by"increased user engagement at several of our evergreen titles, and the successful launches of certain new games", it said. Since 2021, Chinese authorities have also imposed a strict weekly limit of three hours of online games for minors under 18 to curb addiction among younger people.
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