Tencent beats revenue forecasts on AI advertising and gaming growth

Description

Tencent Holdings Ltd surpassed some analysts’ quarterly revenue estimates, driven mainly by AI advertising and increased gaming revenues. The Chinese multinational firm recorded a 15% increase in year-on-year revenue to 184.5 billion yuan ($25.7 billion) for Q2, exceeding analysts’ forecast by 3%. The company recorded a net income increase of 17% which was primarily attributed to the company’s improved margins across advertising and gaming divisions. The company attributed AI-driven advertising ...