BUSINESS Tencent's revenue exceeds 140 bln yuan in Q3

BUSINESS

Tencent's revenue exceeds 140 bln yuan in Q3

Xinhua

22:02, November 16, 2022

SHENZHEN, Nov. 16 (Xinhua) -- Chinese internet giant Tencent raked in about 140 billion yuan (about 19.9 billion U.S. dollars) in revenue during the third quarter of 2022, according to a company financial statement released on Wednesday.

Photo taken on March 19, 2020 shows the interior of Tencent Beijing headquarters at the ZPark Phase 2 in Haidian District of Beijing, capital of China. (Photo: Xinhua)

During this period, the company's net profit neared 32.3 billion yuan, up 2 percent year on year, ending a four-quarter decline. Tencent's revenue in the third quarter was 140.1 billion yuan, down 2 percent year on year.

Tencent's R&D expenditure reached 15.1 billion yuan in the third quarter, a year-on-year increase of 9.8 percent.

Sales and marketing spending fell 32 percent year on year to 7.1 billion yuan in the third quarter.

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