Tencent Q2 Financial Report: The income of the fintech sector has slowed down year -on -year, and the revenue ratio increased to 32%

On August 17, Tencent Holdings released the second quarter of 2022 financial reports.

The financial report shows that the company's revenue in the second quarter was 134 billion yuan, a year -on -year decrease of 3%; net profit was 18.6 billion yuan, a year -on -year decrease of 56%. Under the non -international financial report standards, net profit was 28.1 billion yuan, a year -on -year decrease of 17%.

Regarding the overall performance in the second quarter, Tencent stated that during the second quarter, it took the initiative to withdraw from the non -core business, tightened marketing expenses, cut operation expenses, and enabled the company to achieve a month -on -month growth of non -international financial reporting standards.

Focusing on the fintech sector, in the second quarter, Tencent Fintech and corporate services achieved revenue of 42.208 billion yuan, an increase of 0.75%year -on -year.

It is worth noting that this growth rate has slowed down from the first quarter. In the first quarter of this year, Tencent's fintech and corporate service sector realized revenue of 42.768 billion yuan, an increase of 10%year -on -year.

In this regard, Tencent stated that the year -on -year growth rate of fintech services revenue slowed down from the previous quarter, because the new round of new crown epidemic in April and May has briefly suppressed commercial payment activities, the amount of commercial payment has slowed down in April to low to low. The number of digits increased year -on -year, but the year -on -year growth rate returned to more than tens of percent. In addition, the company's service revenue decreased slightly year -on -year, reflecting the company's active commitment to reducing losses.

However, in the second quarter, the financial sector's revenue contribution to Tencent Holdings further increased to 32%.

Looking forward to the future, Tencent stated that it will focus on improving business efficiency and increasing new sources of income, including the launch of information flow advertisements in the popular video number, while continuing to promote innovation through research and development. About half of the company's income comes from fintech and enterprise services and online advertising. These businesses directly help and benefit from overall economic activities. The growth of China's economy will bring the company's income growth opportunities. (WEMONEY Research Office Liu Shuangxia/Edit)

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