Tencent profit surges 90% as it touts AI revenue boost and ramps up spending
Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.Cheng Xin | Getty Images News | Getty ImagesTencent on Wednesday posted a fourth-quarter beat on top and bottom line driven by a surge in gaming and advertising revenue.The company also notched a ramp-up in capital expenditure, which more than tripled in 2024, as it presses ahead with boosting its focus on artificial intelligence amid intense competition from Chinese riva...
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