Tencent Announces R182bn Share Buyback As Gaming Shoots Lights Out

Tencent plans to buy back more than 10 billion R182 billion of stock after posting its fastest pace of quarterly revenue growth since 2023, buoyed by a string of gaming hits during a Chinese economic downturn.

Revenue for the three months ended December rose a better-than-projected 11 to 172.5 billion yuan R434 billion.

Net income almost doubled to 51.3 billion yuan, ahead of projections.

The company also unveiled plans to buy back at least HK80 billion worth of shares and proposed a 32 rise in its annual dividend for 2025.