Tencent (00700.HK) announces Q3 2020 results

Q3 2020 Key Financial Highlights:

• Total revenues was CNY 125,447 million (USD 18,421 million) an increase of 29% over the third quarter of 2019 (“YoY”)

• On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:

  • Operating profit was CNY 38,116 million (USD 5,597 million), an increase of 34% YoY. Operating margin increased to 30% from 29% last year
  • Profit for the period was CNY 33,325 million (USD 4,893 million), an increase of 33% YoY. Net margin increased to 27% from 26% last year
  • Profit attributable to equity holders of the Company for the quarter was CNY 32,303 million (USD 4,743 million), an increase of 32% YoY
  • Basic earnings per share was CNY 3.402. Diluted earnings per share was CNY 3.314

• Total cash was CNY 265,892 million (USD 39,044 million) at the end of the quarter

Statement by the Chairman and CEO of Tencent Mr. Ma Huateng

"This quarter marked the second anniversary of our strategic organization upgrade, which was intended to enhance our strength in Consumer Internet and extend our presence to Industrial Internet. While the upgrade was designed to bear fruit over the longer run, we are already seeing initial benefits in areas such as consolidating our advertising services, rejuvenating our product and content platforms, growing our cloud and SaaS businesses and building an internal open source code base. In the face of public health, macroeconomic, and geopolitical challenges, we will seek to sharpen our focus, innovate, and collaborate with our partners in order to better serve our users, customers and the society at large.”