Get to know your offshore companies: TENCENT HOLDINGS LTD (HK: 0700)

Tencent recently released its first-quarter unaudited consolidated results for the period ended 31 March 2020. Total revenue for the first quarter of 2020 increased by 26% to RMB108.1 billion (USD15.3 billion) and profit for the quarter to RMB27.98 billion (USD3.95 billion), up by 29% year on year. Diluted earnings per share rose by 5.28% year on year to RMB2.99. Tencent reported that the total cash of the company as at the end of the first quarter was RMB220,584 million (USD31.1 billion).

Revenue from Tencent’s Online Advertising was up by 32% year on year to RMB17.7 billion. Social and other advertising revenues grew by 47% year on year to RMB14.6 billion. Media advertising revenues declined by 10% year on year to RMB3.1 billion.

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