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Tencent Profit Recovers, Approaches $6 Billion in First Quarter
China's social media, streaming and games giant, Tencent sees profit recover to close to $6 billion in the first quarter of the 2024 financial year.
Tencent, the Chinese social media, gaming and streaming giant, enjoyed a 62% gain in profits, earned from a 6% revenue improvement in the first quarter of the year. Tencent Music Entertainment, Monday reported a 28% profit increase as streaming subscriptions and per user revenues improved. So too did revenue from “Peacekeeper Elite.” Recently launched games, including “Valorant,” “Lost Ark” and “Fight of the Golden Spatula” each gained.
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