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Tencent's president Martin Lau says company has a "pretty strong stockpile of chips." Last month, Nvidia said the Trump administration imposed new chip export restrictions to China.
Shares of Chinese tech giant Tencent Holdings (TCEHY 3.46%) rallied today, up as much as 4.5% before settling into a 3.5% gain at the end of the trading day.
Tencent Holdings Limited (OTCPK:TCEHY) Q1 2025 Earnings Conference Call May 14, 2025 8:00 AM ET Company Participants Wendy Huang - IR Pony Ma - Chairman and CEO Martin Lau - President James Mitchell - CSO John Lo - CFO Conference Call Participants Thomas Chong - Jefferies William Packer - BNP Alicia Yap - Citigroup Kenneth Fong - UBS John Choi - Daiwa Jialong Shi - Nomura Alex Yao - JPMorgan Ronald Keung - Goldman Sachs Wendy Huang Good day, and good evening. Thank you for standing by.
Chinese tech giant Tencent says its artificial intelligence (AI) investments have begun paying off. In releasing its quarterly earnings on Wednesday (May 14), the company's CEO noted that its AI capabilities had “contributed tangibly” to its gaming and advertising businesses.
Pre-market futures are up this morning, riding 5-straight up-days on the tech-heavy Nasdaq. The Dow is so far recovering from its UnitedHealth ( UNH ) sell-off yesterday, up +85 points at this hour.
Tencent stock gained after its Q1 report, with the China tech giant citing growth for gaming sales and AI-driven advertising.
Tencent Holdings (HKG:0700, OTC:TCEHY) shares moved higher as the Chinese technology firm posted a year-over-year increase in both revenue and profit for the first quarter driven by growth in its gaming business. Total revenue was up 13% year-over-year at RMB180 billion (US$25.1 billion), above estimates of RMB174.6 billion.
The Chinese tech giant reported another quarter of solid earnings, with the continued growth of its core gaming business backing an emboldened AI push.
Tencent on Wednesday reported an annual rise in its top and bottom line in the first quarter fuelled by accelerated growth in its key gaming business. Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.
Tencent Holdings , China's biggest technology company by market capitalization, posted a 13% rise in first-quarter revenue on Wednesday, driven by growth in its gaming business.