Newsletter summary
Tencent's revenue in the first quarter of 2024 is 1595.Diamondminemegaways0.01 million yuanDiamondminemegawaysNet profit increased by 54%, the usage time of video users increased by more than 80%, and the US stock market closed up 4.67%.
Text of news flash
[Tencent shares jumped 4.67 per cent to US $51.51 on Tuesday, equivalent to HK $402.20 per share in Hong Kong, a 5.34 per cent premium to the previous day's closing price of HK $381.8. Before the US stock market opened on Tuesday, Tencent reported revenue of 159.501 billion yuan in the first quarter of 2024, an increase of 6% over the same period last year and 3% month-on-month growth, exceeding market expectations of 158.81 billion yuan. In addition, the adjusted net profit was 50.265 billion yuan, an increase of 54% over the same period last year and 18% month-on-month, far exceeding the market estimate of 43 billion yuan. More strikingly, Tencent's total usage time of video accounts increased by more than 80% in the first quarter compared with the same period last year. At the performance meeting, Tencent executives revealed that users have spent more than twice as much time on the video account as on "moments". Investors should pay close attention to the stock price dynamics and performance of Tencent in order to make wise investment decisions. At the same time, the stock market is picking up, and interested investors can consider entering the market at the right time.
