Tencent sees 11% gain in Q2 revenue due to AI-driven gains, profits fall short

Tencent Holdings reported Q2 2026 revenue of RMB204.8 billion, a figure up 11% from a year earlier. However, reported net profit barely moved as the Chinese tech giant poured even more funding into AI infrastructure. 

The revenue figure, equal to about US$30.4 billion for the three months ending 30 June, came in just ahead of the market. The South China Morning Post reported that analysts had expected RMB202.8 billion, while KLSE Screener, citing LSEG data placed the consensus at RMB202.2 billion. Tencent cleared the bar with even more than analysts expected.

Net profit stagnant due to increased capex

Using the IFRS basis, net profit attributable to equity holders hit RMB56.0 billion, which is a rise of only 0.7% year on year. This figure fell well short of the RMB61.8 billion analysts had previously penciled in. Tencent’s own results statement confirmed the 0.7% gain and listed basic earnings per share of RMB6.207.

On Tencent’s preferred non-IFRS basis, which removes single time and non-cash items, adjusted net profit came in at RMB68.4 billion. SCMP reported that number landed in line with the RMB68.2 billion consensus from the analysts and was an increase from the RMB63.1 billion of a year earlier.

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