Tencent Reports 82% Profit Surge in Q2

Tencent Holdings reported an impressive 82% increase in net profit for Q2 2024, reaching $6.7 billion, driven by a remarkable recovery in its gaming division, particularly following the successful launch of the mobile game Dungeon & Fighter Mobile (DnF Mobile). Revenue rose 8% year-on-year to 161.1 billion yuan ($22.5 billion), surpassing analysts' expectations. The company's gaming revenue in China saw a 9% increase, indicating a resurgence after a previous decline in 2022. Tencent's WeChat platform continues to propel growth through enhanced ad sales and e-commerce capabilities. Investors have reacted positively, with the company's shares climbing approximately 28% this year. Anticipation builds for future releases, including Black Myth: Wukong, which may further solidify Tencent's position in the competitive gaming market.