China’s Tencent profit down as AI push builds
AgenciesChinese tech firm Tencent posted quarterly net profit Wednesday that was short of expectations, as the gaming and advertising giant looks to monetize its heavy investment i...
Chinese tech giant Tencent reported lower-than-expected quarterly net profit on Wednesday, despite heavy investments in artificial intelligence. The Shenzhen-based company, known for its WeChat app used by over a billion users, also stands as one of the country's leading AI players. Tencent's net profit for the second quarter of 2026 was 56 billion yuan ($8.3 billion), a 0.7 percent increase from the previous year, but a four-percent decrease from the first quarter.
This figure fell short of the 58.4 billion yuan forecasted by Bloomberg. However, revenue for the same period rose by 11 percent to 204.8 billion yuan, surpassing Bloomberg's estimate. Tencent's statement highlighted significant advancements in developing an AI-empowered, intelligent, and infrastructure-oriented version of the company.
The firm acknowledged its previous AI efforts as "leaky," expressing hope for a faster sailing ship. Additionally, Tencent is reportedly in talks to regain stakes in AI startup Manus, currently led by the largest shareholder.
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- Chinese tech giant Tencent’s Q2 profit down as AI push builds freemalaysiatoday.com
