Tencent has shared its full-year 2025 financial results. While AI is attracting a lot of attention, the numbers clearly show that mobile-driven businesses are still doing excellent numbers.
The company reported revenue of RMB 751.8 billion ($112.8 billion), which is a 14% increase compared to the previous year. Gaming has been Tencent’s biggest revenue-generating segment, and they have reported impressive numbers this year as well.
Its domestic games revenue reached RMB 164.2 billion ($24.6 billion), growing 18% year-on-year. Titles like Delta Force, Valorant franchise, Honor of Kings, and Peacekeeper Elite, the Chinese rebrand of PUBG MOBILE, continue to perform well.
On the global side, things look even better. International games revenue grew 33% year-on-year to RMB 77.4 billion ($11.6 billion). Games such as PUBG MOBILE, Supercell titles, and Wuthering Waves, developed by Kuro Games, in which Tencent holds a majority stake, have raked in impressive numbers.
Mobile payments, wealth tools, and cloud services continue to expand steadily, as noted. Tencent also noted increased demand for AI-related cloud services, higher contributions from market-leading PaaS and SaaS products, and an optimised supply chain.
Tencent has also shared that by deploying AI in games, the pace of content production has increased, which in turn has seen the user experience improved, as well as their marketing efficiency. Tencent is investing heavily in AI, from its HY model to new tools and services.
Mr. Ma Huateng, Chairman and CEO of Tencent, shared, “We sustained healthy growth rates in 2025, as AI capabilities improved our ad targeting and supported more engagement with our games, and as our cloud business delivered improving revenue growth and profit at scale. Our highly resilient and cash-generative core businesses provide us with the resources to fund our increasing investments in AI, including recruiting top-tier AI talent and upgrading our AI infrastructure.”
AI is also helping with better ad targeting, but what really stands out is how users are staying within the ecosystem. Features like Mini Programs, Mini Shops, and Video Accounts are getting high growth in their
year-on-year rates in user engagement.
