2024-08-15
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Interface News Reporter |
Interface News Editor | Song Jianan
On the afternoon of August 14, Tencent released a 2024 second quarter financial report with growth as the main theme, with revenue of 161.17 billion yuan and operating profit (Non-IFRS) was 58.443 billion yuan, a year-on-year increase of 27%.
From the perspective of specific business segments, the performance of games, advertising and WeChat businesses is particularly outstanding.Among them, Tencent's domestic game market revenue resumed growth, and overseas market game revenue also continued to grow, with both domestic and overseas market revenues increasing by 9% year-on-year. Tencent management said that this was mainly due to the increase in user participation in many evergreen games and the successful release of several new games.
WeChat in the second quarterThe combined monthly active account numbers of WeChat increased to 1.371 billion, with products such as mini programs, mini games and video accounts showing significant growth.
In addition, the Hunyuan Big Model has been implemented in nearly 700 Tencent internal businesses and scenarios. Collaborative SaaS products such as Tencent Conference and Enterprise WeChat have also been fully integrated into the Hunyuan Big Model.directpromoteCloud Servicesbusinessincomeofcontinuedincrease。
This quarter, Tencent's value-added service revenue increased by 6% year-on-year to 78.8 billion yuan, mainly due to the revenue growth of "Valorant" and the successful release of "Dungeon & Fighter: Origins" (hereinafter referred to as "DNF Mobile Game").
Fearless ContractIt was launched in July last year, and it has been more than a year since then, with the highest daily online volume exceeding 1 million.After its release, it topped the Apple App Store best-selling list for 29 consecutive days.
The latest data from Sensor Tower shows that the monthly revenue of DNF mobile game in June has exceeded 250 million US dollars. Tencent management expects that DNF mobile game is expected to become Tencent's next popular long-term game.
The domestic game market had revenue of 34.6 billion yuan in the second quarter, with the two flagship products, Honor of Kings and Game for Peace, both recovering year-on-year revenue growth. In addition, the mobile game Naruto reached a new record of 10 million daily active accounts in May this year.
International market revenue increased by 9% year-on-year to 13.9 billion yuan, mainly from revenue contributions from "PUBG MOBILE" and "Brawl Stars".
Among them, Brawl Stars’ quarterly average daily active account number hit a record high, ranking third in the international mobile game market in terms of daily active account number (data source: Sensor Tower). The game’s revenue increased by more than 10 times year-on-year in the second quarter, which is an extremely impressive figure.
It is worth mentioning that the new game "Explosion Squad" from the game publisher Supercell has also started national server testing and is about to enter the Chinese market.if《burstSquad》National Serveroperationsscoreoutstanding,perhapswill becomeTencentgameIn the MatrixagainA way to increase company revenuePerformanceThe maingame。
Several of WeChat’s “new businesses” showed clear growth momentum in the second quarter.
Among them, the total user usage time of mini programs increased by more than 20% year-on-year in the second quarter, and the transaction volume facilitated by mini programs achieved a double-digit percentage year-on-year growth.
The total revenue of mini games increased by more than 30% year-on-year, and the number of monthly active users reached 500 million. The mini game platform has accumulated more than 400,000 developers, of which more than 240 mini games have quarterly revenue of more than 10 million.
The user usage time of the video account has increased significantly year-on-year. Tencent explained that this was mainly based on the growth of the recommendation algorithm and the addition of more localized content.
The company has recently taken a number of measures to systematically strengthen its transaction capabilities, improve user experience and merchants' sales performance.For example, on August 12, Tencent officially announced that it will officially support merchants to upgrade their video account stores to WeChat stores starting from August 25.
WeChat Stores will further simplify the merchant entry process, upgrade the brand certification and store naming system, lower the entry threshold and deposit, and support the circulation of store and product information in multiple WeChat scenarios such as official accounts (subscription accounts, service accounts), video accounts (live broadcasts, short videos), mini programs, and Soso.
Tencent's online advertising revenue increased 19% year-on-year to 29.9 billion yuan in the second quarter, with the biggest boost coming from revenue growth from video accounts and long videos. These high-gross-profit businesses also led to a 36% year-on-year increase in gross profit from online advertising, with gross profit margin rising from 49% in the same period last year to 56%.
With the help of AI technologies such as Hunyuan Big Model, Tencent has focused on upgrading its advertising technology platform in the first half of the year to analyze longer-term user interests and process user signals at a higher frequency. Judging from the data of the two financial reports this year, the investment in AI-related technologies has also directly increased advertisers' willingness to place ads.
However, as some Internet companies cut their advertising budgets, the revenue of Tencent Mobile Advertising Alliance showed a year-on-year decline. Tencent did not mention in its financial report which industries its clients had cut back on advertising.
In the second quarter, Tencent Video welcomed popular TV series such as "Joy of Life" Season 2 and "A Journey to the West", which led to a 13% year-on-year increase in the number of paid members to 117 million, the same as the third quarter of last year. Both TV series are adapted from the online literature IP of China Literature Group and produced by New Classics Media.
The increase in long video paid membership income and mini-game service fees also helped Tencent's social network revenue grow 2% year-on-year to 30.3 billion yuan. However, the revenue of its music live broadcast and game live broadcast business segments is still on a downward trend, and the marginalization of related live broadcast businesses is difficult to change.
Driven by the soundtracks of popular dramas on Tencent Video, the number of Tencent Music’s paid members increased by 18% year-on-year to 117 million.
In the enterprise business segment, Tencent's recent financial reports have maintained a steady growth trend, with no obvious fluctuations in revenue.
The revenue of the financial technology and enterprise services business increased by 4% year-on-year to 50.4 billion yuan in the second quarter. Among them, the revenue performance of the financial technology business has declined, and the revenue growth rate has slowed down to a single-digit percentage.
In response, Tencent gave the reason that the slow growth in consumer spending has led to a further slowdown in the growth of commercial payment income, while the improvement in risk control measures has also caused the income from consumer loan services to continue to decline.
The company's enterprise services business maintained a double-digit growth rate。Thanks to the good performance of WeChat Video Account and the increased commercialization efforts of WeChat for Business, Tencent Cloud Service revenue and Video Account merchant technical service fees continued to grow.
In addition, Tencent Cloud's international business is also on a growth track in the first half of this year. Its main market areas areSoutheast Asia, Japan, the Middle East and Europe and other regions.
In terms of R&D investment, in the second quarterTencent's R&D expenditure reached 17.277 billion yuan. Since 2018, its R&D investment has exceeded 302.6 billion yuan.
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