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Since the lows in October 2022 Tencent has rallied 87%. That is a big move for a company with a market cap now of around $430 billion. It's also great news for Naspers and Prosus shareholders. On Wednesday, Tencent reported solid numbers which resulted in a further 8.3% rally in the share price on Thursday.
Revenues only increased 1% but earnings surged nicely thanks to the disposal of food delivery business Meituan. Advertising was the best performer, up 15% for the period while Gaming, Social and Fintech all moved backwards slightly. The picture below from App Economy insights spells it all out quite nicely.
That solid slug of green on the top right is a wonderful sight for shareholders even though a big portion is the once-off Meituan disposal.
