10-Q - Thunder Power Holdings, Inc. (0001912582) (Filer)

Tue, May 20, 3:24 PM (10 days ago)

**Company:** Tencent Holdings Limited (TCEHY) **Summary:** Tencent Holdings Limited reported its Q2 2023 financial results, showcasing a mixed performance. Revenue for the quarter was HKD 143,613,000, reflecting a 2% year-over-year (YoY) increase. However, net profit attributable to equity holders decreased by 23% YoY to HKD 22,446,000, primarily due to increased operating expenses and investments in strategic initiatives. **Key Performance Metrics:** - **Revenue Growth:** Steady at 2% YoY, driven by strong performance in online advertising and value-added services. - **Profit Margins:** Gross margin was 47%, down from 50% in Q2 2022, indicating higher cost pressures. - **Cash Flow:** Operating cash flow was HKD 33,504,000, up 12% YoY, highlighting strong cash generation capabilities. - **Earnings Changes:** Earnings per share (EPS) decreased by 24% YoY to HKD 1.96. **Quarterly Performance Discussion:** Tencent's Q2 performance was marked by robust user engagement across its platforms, with WeChat and Weixin combined monthly active user accounts reaching 1.32 billion. However, the company faced challenges in its online advertising business due to macroeconomic uncertainties and regulatory pressures. **Trends and Uncertainties:** Tencent continues to invest heavily in cloud services, fintech, and strategic partnerships, aiming to diversify its revenue streams. The company faces uncertainties related to regulatory environments, global economic conditions, and competitive dynamics in the tech sector. **Future Operations Impact:** Tencent's strategic investments and focus on innovation are expected to drive long-term growth. However, near-term profitability may be impacted by increased spending and market volatility. The company remains optimistic about its growth prospects, leveraging its strong user base and technological capabilities.