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“We are allocating time and resources, including over RMB2 billion of donations, to contribute to COVID-19 relief initiatives in China and globally.” Says Mr. Ma Huateng, Chairman and CEO of Tencent

TENCENT ANNOUNCES 2020 FIRST QUARTER RESULTS

FWM by FWM
May 13, 2020
in Business
0

Hong Kong,May 13, 2020–Tencent Holdings Limited (“Tencent” or the “Company”, 00700.HK), a leading provider of Internetvalue added services in China, today announced the unaudited consolidated results for the first quarter (“1Q2020”)ended March 31, 2020.

Q2020Key Highlights

Revenues: +26% YoY, non-IFRS1profit attributable to equity holders of the Company: +29% YoY

Total revenueswereRMB108,065million(USD15,252million2), an increaseof26%over thefirstquarter of2019(“YoY”)

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On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items

Operating profit was  RMB35,575million (USD5,021million), an increase of25%YoY. Operating margin remained stable at 33%

Profit for the quarter was RMB27,984million (USD3,950million), an increase of 29%YoY. Net margin increasedto26% from 25% last year.

Profit attributable to equity holders of the Companyfor the quarter was RMB27,079million (USD3,822million), an increase of 29% YoY

Basic earnings per sharewere RMB2.858. Diluted earnings per sharewere RMB2.817.

On an IFRS basis

Operating profit was RMB37,260 million (USD5,259million), anincreaseof 1% YoY. Operating margin decreased to 34% from 43% last year.

Profit for the period was RMB29,403million (USD4,150million), an increase of 6% YoY. Net margin decreased to 27% from 33% last year.

Profit attributable to equity holders of the Company for the quarter was RMB28,896million(USD4,078million), an increase of 6%YoY.

Basic earnings per share were RMB3.049. Diluted earnings per share were RMB2.999

Total cashwere RMB220,584million(USD31,134million) at the end of the quarter

Mr. Ma Huateng, Chairman and CEO of Tencent, said, “As the world tackles COVID-19, our thoughts and hearts go out to all the people who aresuffering from the pandemic. During this difficult period, we seek to provide online services that keep people connected, informed, productive, and entertained. So far, our businesses have proved resilient and cashflow-generative, enabling us to increase our investment to fulfill our mission of “Tech for Good”. We are allocating time and resources, including over RMB2 billion of donations, to contribute to COVID-19 relief initiatives in China and globally.”

 

Tags: FIRSTQUARTER RESULTSTencent Holdings Limited
FWM

FWM

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