Revenue for Q3 2025 reached RMB 192.9 billion, up 15% year-on-year, with net profit attributable to equity holders (non-IFRS) at RMB 70.6 billion, up 18% year-on-year, driven by strong performance in games, marketing services, and fintech.
Strategic AI investments enhanced ad targeting, game engagement, and operational efficiency, with industry-leading advancements in the Hunyuan foundation model.
Weixin and WeChat MAU reached 1,414 million, growing year-on-year and quarter-on-quarter.
For the nine months ended September 2025, revenue increased 14% year-on-year to RMB 557.4 billion, and net profit attributable to equity holders grew 17% to RMB 166.6 billion.
Growth was supported by AI-driven product enhancements and expansion of agentic AI capabilities.
Gross profit for Q3 2025 was RMB 108.8 billion, up 22% year-on-year, with gross margin rising to 56%.
Non-IFRS net profit attributable to equity holders was RMB 70.6 billion, up 18% year-on-year; diluted EPS (non-IFRS) was RMB 7.575, up 19%.
Non-IFRS operating profit was RMB 72.6 billion, up 18% year-on-year; adjusted EBITDA margin was 45%.
Free cash flow was RMB 58.5 billion, stable year-on-year; net cash position was RMB 102.4 billion, up 37% quarter-on-quarter.
Total cash position increased 16% year-on-year to RMB 493.3 billion.
International games growth rate expected to decelerate in Q4 as one-time revenue effects normalize.
2025 CapEx will be lower than previous guidance but higher than 2024, reflecting AI chip availability, not a change in strategy.
Continued focus on AI-driven product enhancements, expansion of agentic AI capabilities, and ecosystem development.
Ongoing investments in R&D and infrastructure to support future growth.
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Tencent is a Chinese multinational conglomerate that specializes in various internet-related services and products. The company was founded in 1998 and is headquartered in Shenzhen, China. Tencent's business model centers around offering a diverse range of digital products and services to its users, including social networking, gaming, ecommerce, music streaming, online payments, and cloud computing. The company's revenue is generated through various channels, such as advertising, in-game purchases, and subscription services.
Tencent is mostly known for its messaging app WeChat, which is the largest social media platform in China. WeChat offers a variety of features, including instant messaging, voice and video calls, mobile payments, and social networking. The app has over 1 billion monthly active users and is considered a "super app" in China, meaning it serves as a one-stop-shop for users' daily needs, such as messaging, shopping, and ordering food. Almost the whole Chinese population that is connected to the internet is using WeChat.
Tencent is also a major player in the gaming industry alongside other giants such as Activision Blizzard and Microsoft, with popular games such as Honor of Kings and PUBG Mobile. The company's gaming division is one of the largest in the world and generates a significant portion of Tencent's revenue.
In addition to its digital products and services, Tencent also invests heavily in other companies, both in China and internationally. The company has invested in various tech startups and established companies in industries such as ecommerce, fintech, and digital entertainment.
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