FinancialTencent
Tencent Holdings Limited Interim Report 2024
1 Aug 2024122 pages~223 min full read
Tencent’s profit attributable to equity holders surged 82% year-on-year to RMB 47.6 billion for the six months ended 30 June 2024.
Revenue grew 8% to RMB 161.1 billion, while non-IFRS profit increased 53% to RMB 57.3 billion.
Gross profit rose 21% to RMB 85.9 billion, driving the gross margin up to 53% from 47% in the prior-year period.
Profitability improvements were driven by higher monetization across gaming, digital content, and cloud services in both domestic and international markets.
Operating cash flow reached RMB 126.5 billion, supporting a strengthened balance sheet with total assets of RMB 1.655 trillion.
Financing activities resulted in a net outflow of RMB 99.8 billion, primarily attributed to significant share repurchases.
Tencent Holdings delivered a robust interim performance for the six months ended 30 June 2024, underscoring the resilience of its diversified internet‑services platform. Revenue rose 8 % year‑on‑year to RMB 161.1 billion, while profit attributable to equity holders surged 82 % to RMB 47.6 billion and non‑IFRS profit increased 53 % to RMB 57.3 billion. Gross profit expanded 21 % to RMB 85.9 billion, lifting the gross margin to 53 % from 47 % a year earlier, reflecting higher monetisation of gaming, digital content and cloud services across China and overseas markets.
The balance sheet strengthened, with total assets climbing 4.9 % to RMB 1.655 trillion and equity reaching RMB 927.6 billion, driven by retained earnings of RMB 842 billion. Operating cash flow improved to RMB 126.5 billion, although financing activities generated a net outflow of RMB 99.8 billion, primarily due to share repurchases (RMB
