Photo taken on Oct. 7, 2020 shows the Tencent building in Nanshan District of Shenzhen, south China's Guangdong Province. (Xinhua/Liu Dawei)
SHENZHEN, May 17 (Xinhua) -- Chinese internet giant Tencent has reported year-on-year revenue and net profit increases during the first quarter of 2023.
Tencent raked in over 149.9 billion yuan (about 21.4 billion U.S. dollars) in revenue during the first three months of 2023, up 11 percent year on year, according to the company's financial results released on Wednesday.
Its net profit rose 27 percent year on year to over 32.5 billion yuan in the first quarter.
Wednesday's report noted that the international games business contributed 13.2 billion yuan's revenue in the first quarter of 2023, up 25 percent year on year, which hit a record high.
In the first quarter, Tencent invested more than 15 billion yuan in R&D. The company had obtained more than 30,000 patents in major countries and regions globally by the end of 2022, said the report.
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