Tencent Q2 revenue rises 11% to 204.8bn yuan, profit muted
Business
Tencent just posted an 11% boost in revenue for the second-quarter, hitting 204.8 billion yuan ($30.36 billion).
The surge came mostly from strong ad sales and steady gaming numbers.
Still, profit only crept up by less than 1%, falling short of what analysts were hoping for.
Tencent doubles down on artificial intelligence
While profits missed the mark at 56 billion yuan (analysts expected closer to 61.8 billion), Tencent is doubling down on artificial intelligence.
The company's focus on ads, gaming, and new tech keeps it a major player in China's tech scene.