China's Tencent posts forecast-beating Q1 revenue on gaming growth / Photo: Jade GAO - AFP/File
-
Jorge Martin confirmed to race at Malaysian MotoGP
-
Ian Wright and Jamie Carragher split on Liverpool-Arsenal prediction
-
Bayern and Kane host Dortmund after week of 'extremes'
-
The Duskbloods delayed as Nintendo Switch 2 release moves to 2027
-
Packers beat Panthers 27-19 as Watson returns from hospital
-
Russia turns to NATO countries for prosthetics amid war-related shortages
-
Affordable supermarket fashion offers designer-inspired autumn alternatives
-
Researchers on island encounter giant spider legs emerging from a burrow
-
Judge throws out Australian mushroom killer's appeal, imposes harsher sentence
-
Britain's King Charles lands in ex-colony Guyana
-
Pelicans down Kings for first win of NBA season
-
Arsenal assess Bukayo Saka fitness concerns before Liverpool meeting
-
Tech firms take fresh hit as earnings misses fan AI fears
-
£10,000 garden project transforms a UK home into a miniature Greece
-
Worcestershire leaders back renewed two-unitary council reorganisation
-
Forest destruction tests Armenia-Azerbaijan peace push
-
India's animal megacentre vows reset after criticism
-
Deal still eludes nations on final day of UN nature talks
-
Dodging fuel price hikes, Damascus drivers turn to electric cars
-
Teen rallies take to the streets across Italy
-
Alvechurch manager praises resilience but seeks improvement after Anstey draw
-
Netanyahu bloc finishes ahead in Israel vote, but well short of majority
-
Crypto platform Binance confirms major hack, more than $2.5bn frozen
-
Rural US hospitals, collateral victims of Trump politics
-
Sports chiefs face losing battle to keep sport separate from politics
-
How Trump could interfere in US midterm elections
-
Nvidia's web of AI bets: smart strategy or bubble risk?
-
As Republicans downplay abortion for midterms, four US states to vote
-
Carrick fights for Man Utd job, Arsenal face Liverpool test
-
No. 4 Indiana looks to revive offense against improving Minnesota
-
Apple TV crime drama Nocturne brings a Scandinavian thriller to Pennsylvania
-
Police close investigation into Hayden Panettiere death after coroner ruling
-
Charity crowdfunds millions to buy historic English estate
-
Australian mushroom killer loses appeal, has sentence extended
-
KeyBank: How a Free Checking Account Cuts Tariff Stress
-
How to Build a "Fun Fund" Without Guilt
-
'Diabolical' Halloween festivities banned in Honduran towns
-
Lethbridge students learn how city transit and transportation systems work
-
Everton boss Moyes backs 'club decision' to drop Grealish for Newcastle tie
-
India highlights defence ties with Japan and Australia at Cebu meetings
-
DoorDash shares rise as Instacart slips following $17 billion takeover plan
-
Horoscope for October 30, 2026: communication and patience shape the day
-
Japanese star Forever Young goes for rare Breeders Cup Classic repeat
-
Amazon cloud business accelerates but shares drop on profit miss
-
Inter Miami stay third after 2-2 draw with FC Cincinnati
-
Wesley Fofana under scrutiny after Chelsea penalty miss in Carabao Cup
-
Inkle buys Finally bookkeeping unit and expands India-based workforce
-
Russell admits absence of rivalry because he cannot match Antonelli
-
PI Industries plans Indian launch of Pioxaniliprole insecticide this rabi season
-
DR Congo says Rwanda flouting pact, US sanctions justified
China's Tencent posts forecast-beating Q1 revenue on gaming growth
Chinese internet giant Tencent on Wednesday reported a better-than-expected increase in first-quarter revenue, propelled by growth in gaming as the firm's strategic drive into artificial intelligence deepens.
Shenzhen-based Tencent is the operator of China's multifunctional app WeChat and a major player in the global gaming industry.
The firm also has a presence in cloud computing, entertainment and AI -- the latter of which has seen a boost in interest among Chinese tech giants following the shock release of advanced chatbot DeepSeek this year.
Tencent's revenue in the three months ended March 31 was 180.0 billion yuan ($25.0 billion), a filing to the Hong Kong Stock Exchange showed, up 13 percent compared to the same period last year.
The figure came in slightly higher than a Bloomberg estimate of 175.7 billion yuan.
In a breakdown of sales, Tencent said that revenue from domestic games increased 24 percent year-on-year, while international games saw a 23 percent rise.
Net profits also charted a moderate increase during the first quarter, the results showed, jumping 14 percent year-on-year to reach 47.8 billion yuan.
"AI capabilities already contributed tangibly to our businesses, such as performance advertising and evergreen games," the firm said in a statement.
Tencent added that it has ramped up spending on "new AI opportunities", including integrated features within the WeChat app.
Chinese tech giants have been funnelling resources into the competitive field of AI since the release of DeepSeek's chatbot in January.
The little-known Chinese company caused a global stir because it appeared to have developed the chatbot at a fraction of the price of Western industry leaders such as the United States's OpenAI.
Tencent this year began trialling its own AI model which it says can outpace DeepSeek.
Tencent was among the tech firms caught up in a sweeping domestic crackdown that began in 2020 with officials calling off the massive, planned listing of Alibaba-linked fintech company Ant Group.
Beijing has signalled renewed friendliness toward tech firms in recent months, but broad restrictions on video game access for minors still stand.
Y.Baker--AT
