Tencent reported a drop in annual revenue for the first time in 19 years

Chinese giant Tencent has set a new anti-record. The company reported that it earned $79.6 billion last year — 1% less compared to 2021. This is the first drop in Tencent’s annual revenue since at least 2004, when the company went public.

▪️Tencent’s operating profit fell by 4% to $22 billion.

Tencent’s revenue from Chinese games fell by 4% to $18 billion. At the same time, revenue from international games increased by 3% and amounted to $6.8 billion. Among the most successful projects, Tencent singled out Honor of Kings, Goddess of Victory: Nikke, Call of Duty: Mobile and Valorant.

During a press conference, Tencent President Martin Lau confirmed that the company is going to pay more attention to neural networks. A month earlier, Reuters sources reported that Tencent was working on an analogue of ChatGPTHunyuanAide.

▪️Martin Lau also announced that he will leave the board of directors in the near future. Nevertheless, he will remain as president of Tencent.

Tencent Report for 2022
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