Tencent Holdings (00700, Financial) released its financial results for the fourth quarter and full-year 2024, showing significant growth in both revenue and profit. In Q4, the company reported revenue of 172.4 billion yuan, marking an 11% increase year-over-year. The profit attributable to equity holders reached 51.3 billion yuan, a substantial 90% rise. On a non-IFRS basis, the profit was 55.3 billion yuan, up 30%.
For the full year of 2024, Tencent's revenue was 660.3 billion yuan, an 8% increase compared to the previous year. The profit attributable to equity holders was 194.1 billion yuan, a 68% rise, while the non-IFRS profit stood at 222.7 billion yuan, up 41%.
In Q4, Tencent's value-added services revenue grew by 14% to 79 billion yuan. This includes international gaming revenue of 16 billion yuan, up 15%, and domestic gaming revenue of 33.2 billion yuan, a 23% increase. Social network revenue rose by 6% to 29.8 billion yuan. Marketing services revenue increased by 17% to 35 billion yuan, while fintech and business services revenue grew by 3% to 56.1 billion yuan.
Throughout 2024, the value-added services segment generated 319.2 billion yuan, a 7% increase. International gaming revenue was 58 billion yuan, up 9%, and domestic gaming revenue reached 139.7 billion yuan, a 10% rise. Social network revenue increased by 2% to 121.5 billion yuan. Marketing services revenue saw a 20% increase to 121.4 billion yuan, and fintech and business services revenue grew by 4% to 212 billion yuan.
As of December 31, 2024, the combined monthly active accounts for WeChat and QQ were 1.385 billion, a 3% increase, while QQ's mobile monthly active accounts were 524 million, a 5% decrease. Paid value-added service subscriptions reached 262 million, a 7% rise. Long video paid memberships totaled 113 million, and music paid memberships reached 121 million.
