Tencent Reports Q4 Revenue of 155.196 Billion Yuan: Hunyuan Large Model Undergoing Internal Testing in 400+ Business Scenarios
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Tencent Holdings today announced its financial results for the fourth quarter and full year ending December 31, 2023, showing varying growth trends across different metrics.
In the fourth quarter, Tencent Holdings achieved revenue of 155.2 billion yuan, representing a 7% year-over-year increase.
Breaking down the Q4 business segments: Value-added services revenue reached 69.1 billion yuan, showing a slight 2% decline compared to the same period last year. Within value-added services, international games revenue amounted to 13.9 billion yuan, achieving 1% year-over-year growth; domestic games revenue was 27 billion yuan, down 3% year-over-year; social network revenue stood at 28.2 billion yuan, also experiencing a 2% decline. Tencent's R&D investment in 2023 reached 64.078 billion yuan. Since its launch in September last year, Tencent Hunyuan has developed into a leading foundational model. The capabilities of Tencent Hunyuan continue to expand, including text-to-image and text-to-video functionalities. It is currently being tested internally across more than 400 business units and has already introduced AI assistant services in Tencent Meeting and Tencent Docs.
Additionally, online advertising revenue in the fourth quarter reached 29.8 billion yuan, a 21% year-on-year increase, demonstrating strong growth momentum. Revenue from fintech and business services also achieved a 15% year-on-year growth, reaching 54.4 billion yuan.
In terms of operational data, as of December 31, 2023, the combined monthly active accounts of WeChat and WeChat reached 1.343 billion, a 2% year-on-year increase, showcasing its robust user base. However, the monthly active accounts on QQ mobile terminals declined by 3% year-on-year to 554 million. Meanwhile, the number of registered accounts for fee-based value-added services grew by 6% year-on-year to 248 million. It is worth mentioning that the number of video paying members reached 117 million, and the number of music paying members also reached 107 million. Both figures demonstrate Tencent's continued dominance in the field of content subscription.