Tencent Q1 2025: Gaming Revenue Hits $6B as Honor of Kings, Delta Force, and AI Push Profits Up

Tencent has posted a strong start to 2025, with Q1 revenue rising 13% year-over-year to ¥180 billion ($25 billion), powered in large part by its thriving gaming business and expanding AI integration across services.

Key Financials

• Revenue: ¥180 billion ($25B), up 13% YoY

• Gross profit: ¥100.5 billion ($13.9B), up 20%

• Operating profit: ¥69.3 billion ($9.6B), up 18%

• Games revenue: ¥42.9 billion ($6B), up 24% YoY

• International games revenue: ¥16.6 billion ($2.3B), up 23% YoY

• Social networks revenue: ¥32.6 billion ($4.5B), up 7% YoY

Games accounted for 24% of Tencent’s total revenue for the quarter.

Evergreen Hits and Rising Stars

Tencent’s gaming momentum continues to be driven by its flagship titles. Honor of Kings and CrossFire Mobile both hit new highs for gross receipts, capitalizing on seasonal demand during Q1.

But new titles also made a splash:

• Dungeon & Fighter Mobile was noted as a top contributor to growth.

• Delta Force, developed by Tencent's Team Jade, posted 12 million daily active users (DAUs) post-launch, earning it the title of highest-DAU new game released in the last 3 years and 6th overall across mobile games.

The tactical shooter’s global mobile launch on April 21, 2025, marked a key milestone in Tencent’s international gaming push.

Global Power Plays

Tencent’s international games portfolio generated ¥16.6 billion ($2.3B) in Q1 – a 23% year-over-year increase.

This growth was fueled by:

• PUBG Mobile

• Supercell’s Brawl Stars and Clash Royale

Brawl Stars, in particular, experienced a remarkable resurgence in late 2024, generating more revenue in just 4 months than it did during the entire last year.