Tencent Surpasses Revenue Forecasts on AI Advertising and Gaming Growth

Tencent Holdings Ltd., a Chinese multinational technology firm, exceeded analysts’ revenue expectations for Q2 2023, fueled by robust growth in both advertising and gaming segments. The company reported a 15% year-on-year increase in revenue to 184.5 billion yuan ($25.7 billion), exceeding forecasts by 3%. This strong performance was driven by improved margins within its advertising and gaming divisions. The company attributed the gains to AI-driven advertising solutions and expansion in gaming and social media initiatives.