Tencent's revenue exceeds 140b yuan in Q3

SHENZHEN - Chinese internet giant Tencent raked in about 140 billion yuan ($19.9 billion) in revenue during the third quarter of 2022, according to a company financial statement released on Wednesday.

During this period, the company's net profit neared 32.3 billion yuan, up 2 percent year-on-year, ending a four-quarter decline. Tencent's revenue in the third quarter was 140.1 billion yuan, down 2 percent year-on-year.

Tencent's R&D expenditure reached 15.1 billion yuan in the third quarter, a year-on-year increase of 9.8 percent.

Sales and marketing spending fell 32 percent year-on-year to 7.1 billion yuan in the third quarter.