The Q3 2024 financial disclosure from Tencent unveiled a revenue of 167.193 billion RMB, indicating an 8% year-on-year expansion, alongside a net profit of 59.813 billion RMB, reflecting a notable 33% year-on-year increase. The evident resurgence in the gaming domain, substantial investment in AI technology, and the resultant upsurge in enterprise services and advertising operations underscored the company's strategic direction. Furthermore, Tencent foresees a further proliferation of AI applications in the foreseeable future and is set to embark on a substantial stock repurchase initiative.

Tencent Holdings' fiscal performance in the third quarter of 2024 once again affirms its robust stature as a prominent tech entity. As per the latest financial dossier, Tencent attained a revenue of 167.193 billion RMB in the third quarter, witnessing an 8% year-on-year upswing. Under non-GAAP standards, the net profit escalated to 59.813 billion RMB, denoting a considerable 33% year-on-year augmentation. These figures not only showcase Tencent's consistent progression in value-added services, marketing services, financial technology, and enterprise services but also mirror the company's endeavors to augment profitability and operational efficacy.

In the realm of gaming, Tencent encountered a substantial revival. The aggregate gaming revenue in the third quarter reached 51.8 billion RMB, reflecting a 12.6% year-on-year surge and contributing to approximately 30% of the total revenue. This growth was predominantly propelled by the commendable performance of titles such as "Honor of Kings" and "Peacekeeper Elite." Additionally, international gaming revenue also manifested a positive growth trajectory, reaching 14.5 billion RMB, a 9% year-on-year increase. Particularly noteworthy is the revenue generated by "Brawl Stars" in the first half of this year, surpassing the combined revenue of 2022 and 2023, with a sevenfold year-on-year surge in gaming revenue in the third quarter.

The investments made by Tencent in AI technology have yielded significant outcomes as well. In the third quarter of 2024, the company's research and development expenditure reached 17.9 billion RMB, showcasing an almost 9% year-on-year escalation. Since 2018, Tencent's cumulative investment in the research and development domain has reached a remarkable 320.5 billion RMB. This substantial investment, particularly in artificial intelligence (AI) technology, has propelled the evolution and enhancement of the company's extensive models, thereby amplifying the market competitiveness of its B2B products. Notably, the recently introduced "Tencent Hybrid Turbo" large model made notable strides in performance, doubling both training and inference efficiency in comparison to its predecessor, Tencent Hybrid Pro, while halving inference costs.

Presently leveraging its internally cultivated technological prowess, Tencent has effectively established a comprehensive AI large model product matrix enveloping the entire spectrum. This endeavor furnishes robust support to numerous corporate clients, empowering them to seamlessly integrate AI technology into their diverse industrial scenarios. The Tencent Hybrid large model has been deeply assimilated within the company and across over 700 business and scenarios, yielding favorable outcomes in various domains including advertising.

Looking towards the future, Tencent anticipates a proliferation of AI applications in the ensuing quarters. The company's sustained investments and explorations in the AI domain will propel the application of AI technology across diverse business scenarios, further amplifying the company's competitive edge and market presence. During the question and answer segment subsequent to the conference call, Tencent unveiled intentions for a large-scale stock repurchase this year, projected to exceed 100 billion HKD, not only underscoring the company's confidence in its future trajectory but also conveying a positive signal to the market.