Internet giant Tencent raked in about 140 billion yuan (about 19.9 billion U.S. dollars) in revenue during the third quarter of 2022, according to a company financial statement released on Wednesday.
During this period, the company’s net profit neared 32.3 billion yuan, up 2 percent year on year, ending a four-quarter decline. Tencent’s revenue in the third quarter was 140.1 billion yuan, down 2 percent year on year.
Tencent’s R&D expenditure reached 15.1 billion yuan in the third quarter, a year-on-year increase of 9.8 percent.
Sales and marketing spending fell 32 percent year on year to 7.1 billion yuan in the third quarter.
Originally published by Xinhua