Tencent Holdings Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	721,986	652,498	603,620	547,358	552,433	474,569
Other Revenue	7,855	7,759	5,395	7,194	7,685	7,495
Revenue	729,841	660,257	609,015	554,552	560,118	482,064
Revenue Growth (YoY)	13.50%	8.41%	9.82%	-0.99%	16.19%	27.77%
Cost of Revenue	324,832	310,959	315,903	315,665	314,187	260,440
Gross Profit	405,009	349,298	293,112	238,887	245,931	221,624
Selling, General & Admin	170,273	149,146	137,719	135,925	130,441	101,383
Other Operating Expenses	2,173	-7,808	-7,571	-7,918	-8,360	-5,141
Operating Expenses	172,446	141,338	130,148	128,007	122,081	96,242
Operating Income	232,563	207,960	162,964	110,880	123,850	125,382
Interest Expense	-13,473	-12,447	-11,885	-9,985	-7,918	-7,449
Interest & Investment Income	17,572	16,719	14,354	8,592	7,310	8,722
Earnings From Equity Investments	26,161	25,176	5,800	-16,129	-16,444	3,672
Currency Exchange Gain (Loss)	466	466	-383	633	804	-438
Other Non Operating Income (Expenses)	-6,291	-5,282	-2,775	-	-	-
EBT Excluding Unusual Items	256,998	232,592	168,075	93,991	107,602	129,889
Merger & Restructuring Charges	2,200	2,200	-	-	-	-
Impairment of Goodwill	-1,405	-1,262	-5	-	-8,702	-4,205
Gain (Loss) on Sale of Investments	10,988	7,923	-3,766	116,287	149,160	55,005
Gain (Loss) on Sale of Assets	194	194	126	108	-	-
Asset Writedown	-159	-159	-93	-141	2	-667
Legal Settlements	-3	-3	-18	-	-	-
Other Unusual Items	-	-	-2,995	-20	-	-
Pretax Income	268,813	241,485	161,324	210,225	248,062	180,022
Income Tax Expense	46,634	45,018	43,276	21,516	20,252	19,897
Earnings From Continuing Operations	222,179	196,467	118,048	188,709	227,810	160,125
Minority Interest in Earnings	-4,273	-2,394	-2,832	-466	-2,988	-278
Net Income	217,906	194,073	115,216	188,243	224,822	159,847
Net Income to Common	217,906	194,073	115,216	188,243	224,822	159,847
Net Income Growth	28.35%	68.44%	-38.79%	-16.27%	40.65%	71.31%
Shares Outstanding (Basic)	9,114	9,269	9,455	9,528	9,528	9,490
Shares Outstanding (Diluted)	9,269	9,408	9,610	9,695	9,696	9,650
Shares Change (YoY)	-2.07%	-2.10%	-0.88%	-0.01%	0.48%	0.49%
EPS (Basic)	23.91	20.94	12.19	19.76	23.60	16.84
EPS (Diluted)	23.36	20.49	11.89	19.34	23.16	16.52
EPS Growth	31.25%	72.34%	-38.54%	-16.51%	40.20%	71.34%
Free Cash Flow	208,312	195,594	200,954	123,412	145,884	160,049
Free Cash Flow Per Share	22.48	20.79	20.91	12.73	15.05	16.59
Dividend Per Share	4.229	4.229	3.086	2.123	1.303	1.347
Dividend Growth	37.02%	37.02%	45.37%	62.87%	-3.25%	25.59%
Gross Margin	55.49%	52.90%	48.13%	43.08%	43.91%	45.97%
Operating Margin	31.86%	31.50%	26.76%	19.99%	22.11%	26.01%
Profit Margin	29.86%	29.39%	18.92%	33.95%	40.14%	33.16%
Free Cash Flow Margin	28.54%	29.62%	33.00%	22.25%	26.05%	33.20%
EBITDA	258,150	230,092	183,954	134,297	146,995	144,667
EBITDA Margin	35.37%	34.85%	30.20%	24.22%	26.24%	30.01%
D&A For EBITDA	25,587	22,132	20,990	23,417	23,145	19,285
EBIT	232,563	207,960	162,964	110,880	123,850	125,382
EBIT Margin	31.86%	31.50%	26.76%	19.99%	22.11%	26.01%
Effective Tax Rate	17.35%	18.64%	26.83%	10.23%	8.16%	11.05%
Revenue as Reported	729,841	660,257	609,015	554,552	560,118	482,064
Advertising Expenses	-	25,062	22,836	18,764	31,335	26,596

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.