Chess Rush

Tencent Announces 2019 Second Quarter and Interim Results – PRNewswire

HONG KONG, Aug. 14, 2019 /PRNewswire/ — Tencent Holdings Limited (“Tencent” or the “Company”, 00700.HK), a number one supplier of Internet worth added providers in China, at present introduced the unaudited consolidated outcomes for the second quarter (“2Q2019”) and first half yr of 2019 (“1H2019”) ended June 30, 2019.

1H2019 Key Highlights  

Revenues: +18% YoY, non-GAAP Profit attributable to fairness holders of the Company: +17% YoY

Total revenues had been RMB174,286 million (USD25,352 million[1]), a rise of 18% over the primary half of 2018 (“YoY”).
Operating revenue was RMB64,263 million (USD9,348 million), a rise of 22% YoY. Operating margin elevated to 37% from 36% final yr.
Profit for the interval was RMB52,540 million (USD7,643 million), a rise of 23% YoY. Net margin elevated to 30% from 29% final yr. 
Profit attributable to fairness holders of the Company for the interval was RMB51,346 million (USD7,469 million), a rise of 25% YoY.
Basic earnings per share had been RMB5.427. Diluted earnings per share had been RMB5.362.
On a non-GAAP[2] foundation, which excludes sure non-money objects and sure affect of M&A transactions:
– Operating revenue was RMB55,751 million (USD8,110 million), a rise of 17% YoY. Operating margin remained steady YoY at 32%.
– Profit for the interval was RMB45,864 million (USD6,671 million), a rise of 16% YoY. Net margin barely decreased to 26% from 27% final yr.
– Profit attributable to fairness holders of the Company for the interval was RMB44,455 million (USD6,466 million), a rise of 17% YoY.
– Basic earnings per share had been RMB4.699. Diluted earnings per share had been RMB4.643.

[1] Figures acknowledged in USD are primarily based on USD1 to RMB6.8747

[2] Non-GAAP changes excludes share-primarily based compensation and M&A associated affect corresponding to internet (positive aspects)/losses from investee corporations, amortisation of intangible property and impairment provision

2Q2019 Key Highlights

Revenues: +21% YoY, non-GAAP Profit attributable to fairness holders of the Company: +19% YoY

Total revenues had been RMB88,821 million (USD12,920 million), a rise of 21% over the second quarter of 2018 (“YoY”).
Operating revenue was RMB27,521 million (USD4,003 million), a rise of 26% YoY. Operating margin elevated to 31% from 30% final yr.
Profit for the interval was RMB24,684 million (USD3,591 million), a rise of 33% YoY. Net margin elevated to 28% from 25% final yr. 
Profit attributable to fairness holders of the Company for the quarter was RMB24,136 million (USD3,511 million), a rise of 35% YoY.
Basic earnings per share had been RMB2.550. Diluted earnings per share had been RMB2.520.
On a non-GAAP foundation, which excludes sure non-money objects and sure affect of M&A transactions:
– Operating revenue was RMB27,281 million (USD3,968 million), a rise of 23% YoY. Operating margin elevated to 31% from 30% final yr.
– Profit for the interval was RMB24,191 million (USD3,519 million), a rise of 18% YoY. Net margin decreased to 27% from 28% final yr.
– Profit attributable to fairness holders of the Company for the quarter was RMB23,525 million (USD3,422 million), a rise of 19% YoY.
– Basic earnings per share had been RMB2.486. Diluted earnings per share had been RMB2.456.

Mr. Ma Huateng, Chairman and CEO of Tencent, stated, “During the second quarter, we sustained stable consumer, income and revenue development, and executed on key initiatives amid the difficult enterprise setting. In latest months, we’ve accelerated our charge of innovation in video games, releasing profitable new titles in a number of totally different genres, introducing new play modes, and extending our in style season passes. In the meantime, we proceed to strengthen the Healthy Gameplay System for selling balanced gameplay for younger customers. We have widened service provider adoption for our cell cost providers, contributing to fast development in common transaction and whole cost quantity. We have prolonged and deepened our unique relationship with the NBA, probably the most-watched skilled sports activities league in China, reinforcing our place as a number one digital leisure platform. Amid the evolving macro-financial and aggressive challenges, we proceed to put money into enhancing our platforms, providers and applied sciences, for higher supporting our customers and enterprise clients.”

2Q2019 Financial Review

Revenues from VAS elevated by 14% to RMB48,080 million for the second quarter of 2019 on a yr-on-yr foundation. Online video games revenues grew by eight% to RMB27,307 million. The improve was primarily on account of income development from good cellphone video games, together with current titles corresponding to Honour of Kings, PUBG MOBILE and Red Alert OL, and lately launched titles corresponding to Perfect World Mobile, offset by a decline in revenues from PC consumer video games. Social networks revenues grew by 23% to RMB20,773 million. The improve primarily mirrored greater revenues from digital content material providers corresponding to reside broadcast providers and video streaming subscriptions.

Revenues from FinTech and Business Services elevated by 37% to RMB22,888 million for the second quarter of 2019 on a yr-on-yr foundation. The improve was primarily pushed by income development from business cost and cloud providers, partly offset by the absence of curiosity earnings after transferring custodian money balances to the People’s Bank of China.

Revenues from Online Advertising elevated by 16% to RMB16,409 million for the second quarter of 2019 on a yr-on-yr foundation. Social and others promoting revenues elevated by 28% to RMB12,009 million, primarily benefiting from better promoting income contributions from Weixin Moments and QQ KanDian. Media promoting revenues decreased by 7% to RMB4,400 million, primarily reflecting decrease contributions from our media platforms because of the absence of the FIFA World Cup event.

Other Key Financial Information for 2Q2019

Share-based compensation was RMB2,453 million, up 36% YoY.

EBITDA was RMB32,649 million, up 24% YoY. Adjusted EBITDA was RMB35,102 million, up 25% YoY.

Capital expenditure was RMB4,362million, down 38% YoY.

Free money move* was RMB20,698 million, up 27% YoY.

As at June 30, 2019, internet debt place totalled RMB15,766 million. Fair worth of our stakes in listed investee corporations (excluding subsidiaries) totalled RMB329,Zero12 million as at 30 June 2019.

* Starting from the primary quarter of 2019, we’ve reclassified curiosity paid in money move presentation from working actions to financing actions in an effort to replicate the character of enterprise. Comparative figures have been reclassified to evolve with the present interval presentation.

Business Review and Outlook

1.  Company Strategic Highlights

During the second quarter, we sustained stable consumer, income, and revenue development, and executed on key initiatives amid the difficult enterprise setting. In latest months, we enhanced our merchandise, prolonged our key platforms, and deepened with giant and small companions. For instance:

We accelerated our charge of innovation in video games, efficiently releasing new video games in a number of totally different genres, introducing new modes inside a few of our key titles, and extending our season passes. Meanwhile, we proceed to strengthen the Healthy Gameplay System for selling balanced gameplay for younger customers.
We widened service provider acceptance for our cell cost providers, contributing to fast development in common transaction quantity and in whole cost quantity, in addition to ongoing development in business cost customers.
We prolonged and deepened our unique relationship with the National Basketball Association (“NBA”), probably the most-watched skilled sports activities league in China, reinforcing our place as a number one digital leisure platform.

Amid the evolving macro-financial and aggressive challenges, we proceed to put money into enhancing our platforms, providers and applied sciences, for higher supporting our customers and enterprise clients.

2.  Company Financial Performance

In the second quarter of 2019

Revenue elevated by 21% yr-on-yr, primarily pushed by business cost providers and different FinTech providers, good cellphone video games, and different digital content material gross sales.

Operating revenue elevated by 26% yr-on-yr. Non-GAAP working revenue elevated by 23% yr-on-yr.

Profit attributable to fairness holders of the Company elevated by 35% yr-on-yr. Non-GAAP revenue attributable to fairness holders of the Company elevated by 19% yr-on-yr.

Three.  Company Business Highlights

Operating Information


As at

30 June

2019

As at

30 June

2018

Year-

on-yr

change

As at

31 March

2019

Quarter-
on-quarter

change


(in thousands and thousands, until specified)


MAU of QQ

807.9

803.2

Zero.6%

823.Zero

-1.eight%


Smart gadget MAU of QQ                                     

706.7

708.6

-Zero.Three%

700.four

Zero.9%


Combined MAU of Weixin
     and WeChat

1,132.7

1,Zero57.7

7.1%

1,111.7

1.9%


Smart gadget MAU of
     Qzone

553.5

542.7

2.Zero%

571.9

-Three.2%


Fee-based VAS registered
     subscriptions

168.9

153.9

9.7%

165.5

2.1%

Communication and Social

During the second quarter of 2019, mixed MAU of Weixin and WeChat was 1,133 million, up 7% yr-on-yr. Smart gadget MAU of QQ was 707 million, broadly steady yr-on-yr.

Weixin Mini Programs ecosystem has turn into extra vibrant, attracting extra builders and service suppliers. The variety of medium-to-lengthy-tail Mini Programs has greater than doubled yr-on-yr whereas the character of Mini Programs has turn into extra diversified. For instance, content material Mini Programs enable customers to conveniently create, add and share attention-grabbing movies, music and information inside Weixin. More than a dozen content material Mini Programs have attained over 1 million DAU. Key consumer metrics together with time spent per consumer, each day messages and video uploads sustained stable yr-on-yr development through the second quarter.

We launched a serious model improve for Mobile QQ, which contributed to a rise within the variety of each day messages and strengthened consumer engagement. To enrich the core chat expertise, we enhanced functionalities for messages in numerous kinds corresponding to voice and video. To broaden consumer connections, we upgraded algorithms to advocate new associates primarily based on widespread pursuits and shared contacts. We launched QQ Mini Programs, with leisure and video games-associated Mini Programs attaining specific recognition amongst QQ customers.

Online Games

Total on-line video games revenues elevated eight% yr-on-yr to RMB27.Three billion.

Smart cellphone video games revenues (together with good cellphone video games revenues attributable to our social networks enterprise) amounted to RMB22.2 billion, up 26% yr-on-yr because of the recognition of current key titles and latest releases. Sequentially, good cellphone video games revenues had been up 5% quarter-on-quarter as we launched extra video games following monetisation licence approval resumption, offsetting weak seasonality. During the quarter, we launched 10 video games together with an in-home AR recreation, Catchya, and in-home RPGs, Fairy Tail and Raziel, in contrast with just one recreation within the first quarter. Honour of Kings income elevated yr-on-yr. Perfect World Mobile, a licensed RPG that we launched in March, contributed considerably to our second quarter income. Our in-home tactical event recreation, Peacekeeper Elite, has exceeded 50 million DAU since its launch in May and begun monetisation with a profitable season go providing, though reported income was restricted within the second quarter because of the deferral affect.

We are within the early phases of implementing season passes for a number of of our key titles, contributing to paying propensity inside these video games. Our knowledge recommend that season go spending is essentially complementary to the present merchandise gross sales mannequin, and additionally enhances participant exercise. In July, we launched three good cellphone video games in numerous recreation genres, together with racing recreation KartRider Rush, technique recreation Game of Thrones: Winter is Coming, and RPG Dragon Raja. All three have achieved high 10 positions within the iOS Grossing Chart for video games in China. Internationally, we expanded our consumer base through our hit title PUBG MOBILE (which has exceeded 50 million DAU) and new video games corresponding to Speed Drifter (the worldwide model of QQ Speed) and Chess Rush.

Our PC consumer video games revenues had been RMB11.7 billion, down 9% yr-on-yr, regardless of elevated money receipts, and down 15% quarter-on-quarter on account of weak seasonality. League of Legends money receipts elevated yr-on-yr pushed by in style eSports-themed skins. In June, League of Legends launched a brand new play mode, Teamfight Tactics, contributing to development in its DAU and consumer time spent. Teamfight Tactics is the worldwide chief within the rising auto-chess class. DnF has lowered monetisation as we give attention to enhancing its consumer expertise.

Digital Content

Our payment-primarily based VAS subscriptions elevated 10% yr-on-yr to 168.9 million, primarily attributable to video and music subscriptions. Tencent Video subscription counts had been 96.9 million, up 30% yr-on-yr, benefitting from joint membership promotions with our strategic companions and our in style self-commissioned Chinese anime sequence, The Land of Warriors Season 2. However, the expansion in our video subscriber base slowed, because of the delay in scheduling of high-tier drama sequence content material.

During the 2018-2019 season of the NBA, 490 million Internet customers in China watched a number of video games on our platforms, almost tripling the variety of Internet customers who watched the NBA on Tencent platforms through the 2014-2015 season. Our partnership didn’t solely improve followers engagement, model energy and monetisation functionality for the NBA, but additionally bolstered Tencent Sports as the highest Internet vacation spot for sports activities followers in China, contributing to our promoting and subscription revenues. Recently, we introduced a 5-yr partnership extension with the NBA. We will cooperate with the NBA in growing basketball-associated good cellphone video games and eSports occasions.

Online Advertising

Our internet marketing revenues had been RMB16.four billion, up 16% yr-on-yr, amid the difficult macro setting and elevated provide of brief video promoting inventories throughout the trade. We count on the unfavourable affect from the present enterprise setting will persist within the second half of 2019. Sequentially, revenues grew on account of seasonal promoting demand from eCommerce and on-line schooling sectors. Social and others promoting revenues had been RMB12.Zero billion, up 28% yr-on-yr, pushed by elevated inventories and impressions for merchandise corresponding to Weixin Moments and QQ KanDian.

Media promoting revenues had been RMB4.four billion, down 7% yr-on-yr, as surprising delays to airing sure high-tier drama sequence and the absence of the FIFA World Cup this yr resulted in much less sponsorship promoting revenues. Mobile video DAU remained steady, contributing to notable yr-on-yr and quarter-on-quarter development from in-feed promoting inside our Tencent Video app. In April, we launched Season 2 of Produce 101, a extremely in style self-commissioned selection present, which achieved document promoting billings for a program on Tencent Video.

FinTech and Business Services

FinTech and Business Services revenues had been RMB22.9 billion, up 37% yr-on-yr. Excluding curiosity earnings on custodian money balances, revenues had been up 57% yr-on-yr. Within FinTech Services, business funds grew quickly by way of customers, retailers, transaction quantity and revenues, driving the section income development. Our wealth administration platform, LiCaiTong, grew its aggregated buyer property to over RMB800 billion as of the top of the second quarter, indicating a pattern that our customers are more and more protecting their cash inside our cost system. This pattern brings down the frictional prices for customers to make use of Weixin Pay, lowering our withdrawal payment income and financial institution cost bills. We imagine the general affect will contribute to the vitality of our FinTech enterprise in the long term. We stay centered on threat administration of our FinTech companies to maintain our lengthy-time period platform development.

Within Business Services, cloud revenues grew robustly yr-on-yr as we expanded our gross sales crew and product choices to enroll extra key accounts and giant contracts. Meanwhile, we’ve deepened our penetration in small and medium companies by shut partnerships with Independent Software Vendors and resellers. We additional strengthened the cloud-primarily based improvement kits for Mini Programs builders to allow extra environment friendly improvement processes, operations and upkeep. In the monetary sector, we attained key contracts from insurance coverage corporations, banks and brokerage companies, together with PICC, Bank of Communications and Haitong Securities. In July, we launched our “WeCity” cloud-primarily based good trade options for public providers corresponding to healthcare, transportation and schooling in numerous cities, together with Changsha. According to the International Data Corporation, we ranked second within the public cloud IaaS market in China, and had been among the many high ten globally, in 2018.

For different detailed disclosure, please confer with our web site www.tencent.com/ir, or comply with us through Weixin Official Account (Weixin ID: Tencent_IR).

About Tencent

Tencent makes use of know-how to complement the lives of Internet customers.

Our communications and social platforms, Weixin and QQ, join customers with one another and with digital content material and providers, each on-line and offline, making their lives extra handy. Our focused promoting platform helps advertisers attain out to lots of of thousands and thousands of shoppers in China. Our FinTech and enterprise providers help our companions’ enterprise development and help their digital improve.

Tencent invests closely in expertise and technological innovation, actively selling the event of the Internet trade. Tencent was based in Shenzhen, China, in 1998. Shares of Tencent (00700.HK) was listed on the Main Board of the Stock Exchange of Hong Kong in 2004.

For enquiries, please contact:

Catherine Chan

Tel: (86) 755 86013388 ext. 88369/ (852) 3148 5100 Email: cchan#tencent.com

Wendy Huang

Tel: (86) 755 86013388 ext. 50839/ (852) 3148 5100 Email: wendyyhuang#tencent.com

Jane Yip

Tel: (86) 755 86013388 ext. 68961/ (852) 3148 5100 Email: janeyip#tencent.com

PH Cheung

Tel: (86) 755 86013388 ext. 68919/ (852) 3148 5100 Email: phcheung#tencent.com

Non-GAAP Financial Measures

To complement the consolidated outcomes of the Group ready in accordance with IFRS, sure further non-GAAP monetary measures (by way of working revenue, working margin, revenue for the interval, internet margin, revenue attributable to fairness holders of the Company, primary EPS and diluted EPS), have been offered on this press launch. These unaudited non-GAAP monetary measures ought to be thought-about along with, not as an alternative choice to, measures of the Group’s monetary efficiency ready in accordance with IFRS. In addition, these non-GAAP monetary measures could also be outlined otherwise from comparable phrases utilized by different corporations.

The Company’s administration believes that the non-GAAP monetary measures present traders with helpful supplementary info to evaluate the efficiency of the Group’s core operations by excluding sure non-money objects and sure impacts of M&A transactions. In addition, non-GAAP changes embrace related non-GAAP changes for the Group’s materials associates primarily based on obtainable revealed financials of the related materials associates, or estimates made by the Company’s administration primarily based on obtainable info, sure expectations, assumptions and premises.

Forward-Looking Statements

This press launch comprises ahead-trying statements regarding the enterprise outlook, forecast enterprise plans and development methods of the Company. These ahead-trying statements are primarily based on info at the moment obtainable to the Company and are acknowledged herein on the premise of the outlook on the time of this press launch. They are primarily based on sure expectations, assumptions and premises, a few of that are subjective or past our management.  These ahead-trying statements could show to be incorrect and is probably not realised in future. Underlying the ahead-trying statements is a lot of dangers and uncertainties. Further info relating to these dangers and uncertainties is included in our different public disclosure paperwork on our company web site.

CONSOLIDATED INCOME STATEMENT

RMB in million, until specified


Unaudited


Unaudited


2Q2019

2Q2018


2Q2019

1Q2019

Revenues

88,821

73,675


88,821

85,465

VAS

48,080

42,069


48,080

48,974

FinTech and Business Services

22,888

16,666


22,888

21,789

Online Advertising

16,409

14,110


16,409

13,377

Others

1,444

830


1,444

1,325

Cost of revenues

(49,695)

(39,229)


(49,695)

(45,645)

Gross revenue

39,126

34,446


39,126

39,820

Gross margin

44%

47%


44%

47%

Interest earnings

1,652

1,Zero72


1,652

1,408

Other positive aspects, internet

four,038

2,506


four,038

11,089

Selling and advertising and marketing bills

(four,718)

(6,360)


(four,718)

(four,244)

General and administrative bills

(12,577)

(9,857)


(12,577)

(11,331)

Operating revenue

27,521

21,807


27,521

36,742

Operating margin

31%

30%


31%

43%

Finance prices, internet

(1,982)

(1,151)


(1,982)

(1,117)

Share of revenue/(loss) of associates and joint ventures

2,370

1,526


2,370

(2,957)

Profit earlier than earnings tax

27,909

22,182


27,909

32,668

Income tax expense

(Three,225)

(Three,602)


(Three,225)

(four,812)

Profit for the interval

24,684

18,580


24,684

27,856

Net margin

28%

25%


28%

33%

Attributable to:










    Equity holders of the Company

24,136

17,867


24,136

27,210

    Non-controlling pursuits

548

713


548

646












Non-GAAP revenue attributable to fairness holders of the
Company

23,525

19,716


23,525

20,930












Earnings per share for revenue attributable to
     fairness holders of the Company
     (in RMB per share)










– primary

2.550

1.893


2.550

2.877

– diluted

2.520

1.868


2.520

2.844

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

RMB in million, until specified


Unaudited


2Q2019

2Q2018

Profit for the interval

24,684

18,580

Other complete earnings, internet of tax:




Items that could be subsequently reclassified to revenue or loss




Share of different complete loss of associates and joint ventures

(2)

(123)

Currency translation variations

Three,059

5,579

Other honest worth (losses)/positive aspects

(1,388)

332






Items that won’t be subsequently reclassified to revenue or loss
  Net positive aspects/(losses) from modifications in honest worth of monetary property at honest worth by
    different complete earnings
  Other honest worth losses

 

2,582
(70)

 

(535)
(72)


four,181

5,181

Total complete earnings for the interval

28,865

23,761

Attributable to:




    Equity holders of the Company

28,080

22,636

    Non-controlling pursuits

785

1,125

OTHER FINANCIAL INFORMATION
















RMB in million, until specified




































Unaudited


















2Q2019

1Q2019

2Q2018
















EBITDA (a)

32,649

33,566

26,409
















Adjusted EBITDA (a)

35,102

35,598

28,139
















Adjusted EBITDA margin (b)

40%

42%

38%
















Interest and associated bills

1,757

1,499

1,188
















Net debt (c)

(15,766)

(9,595)

(35,301)
















Capital expenditures (d)

four,362

four,506

7,Zero85


















Note:

(a) EBITDA is calculated as working revenue much less curiosity earnings and different positive aspects/losses, internet, and including again depreciation of property, plant and
tools, funding properties in addition to proper-of-use property, and amortisation of intangible property. Adjusted EBITDA is calculated as EBITDA
plus fairness-settled share-primarily based compensation bills.

(b) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenues.

(c) Net debt represents interval finish steadiness and is calculated as money and money equivalents, plus time period deposits and others, minus borrowings and notes
payable.

(d) Capital expenditures consist of additives (excluding enterprise combos) to property, plant and tools, building in progress, funding
properties, land use rights and intangible property (excluding media contents, recreation licences and different contents).

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

RMB in million, until specified








Unaudited


Audited

30-Jun-19


31-Dec-18


ASSETS






Non-current property






Property, plant and tools 

40,157


35,091

Right-of-use property

10,816


Land use rights

7,180


7,106

Construction in progress

2,318


four,879

Investment properties

909


725

Intangible property

56,256


56,650

Investments in associates

227,187


219,215

Investments in joint ventures

eight,560


eight,575

Financial property at honest worth by revenue or loss

107,575


91,702

Financial property at honest worth by different complete earnings

69,068


43,519

Prepayments, deposits and different property

26,491


21,531

Other monetary property

187


1,693

Deferred earnings tax property

16,883


15,755










573,587


506,441








Current property






Inventories

312


324

Accounts receivable

32,199


28,427

Prepayments, deposits and different property

23,504


18,493

Other monetary property

714


339

Financial property at honest worth by revenue or loss

four,659


6,175

Term deposits

57,Zero37


62,918

Restricted money

2,Zero14


2,590

Cash and money equivalents

122,838


97,814










243,277


217,080








Total property

816,864


723,521

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)

RMB in million, until specified








Unaudited


Audited

30-Jun-19


31-Dec-18


EQUITY






Equity attributable to fairness holders of the Company






Share capital


Share premium

31,667


27,294

Shares held for share award schemes

(Three,936)


(four,173)

Other reserves

16,038


729

Retained earnings

342,687


299,660


386,456


323,510
















Non-controlling pursuits

34,576


32,697








Total fairness

421,Zero32


356,207








LIABILITIES






Non-current liabilities






Borrowings

82,038


87,437

Notes payable

82,Zero96


51,298

Long-term payables

2,873


four,797

Other monetary liabilities

2,Zero25


Three,306

Deferred earnings tax liabilities

10,547


10,964

Lease liabilities

eight,662


Deferred income

5,643


7,077










193,884


164,879








Current liabilities






Accounts payable

67,764


73,735

Other payables and accruals

32,314


33,312

Borrowings

25,691


26,834

Notes payable

10,367


13,720

Current earnings tax liabilities

9,711


10,210

Other tax liabilities

1,248


1,Zero49

Other monetary liabilities

1,228


1,200

Lease liabilities

2,778


Deferred income

50,847


42,375










201,948


202,435








Total liabilities

395,832


367,314








Total fairness and liabilities

816,864


723,521

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

RMB in million, until specified


Unaudited


1H2019


1H2018

(Restated)

Net money flows generated from working actions

53,804


43,265








Net money flows utilized in investing actions

(36,300)


(72,896)








Net money flows generated from financing actions

7,252


28,261


Net improve/ (lower) in money and money equivalents

24,756


(1,370)








Cash and money equivalents at starting of the interval

97,814


105,697








Exchange positive aspects on money and money equivalents

268


296


Cash and money equivalents at finish of the interval

122,838


104,623


Analysis of balances of money and money equivalents:














Bank balances and money

53,244


44,058

Term deposits and extremely liquid investments with preliminary phrases inside
     three months

69,594


60,565




122,838


104,623

RECONCILIATIONS OF IFRS TO NON-GAAP RESULTS


As

reported

Adjustments

Non-GAAP

RMB in million,

until specified

Share-based

compensation (a)

Net (positive aspects)/losses from
investee corporations (b)

Amortisation of

intangible property (c)

Impairment

provision (d)

Income

tax results (e)


Unaudited three months ended June 30, 2019

Operating revenue

27,521

2,453

(four,950)

118

2,139

27,281

Profit for the interval

24,684

2,373

(6,523)

1,486

2,492

(321)

24,191

Profit attributable to fairness
     holders

24,136

2,296

(6,522)

1,432

2,492

(309)

23,525

Operating margin

31%










31%

Net margin

28%










27%


Unaudited three months ended March 31, 2019

Operating revenue

36,742

2,Zero33

(10,546)

114

127

28,470

Profit for the interval

27,856

2,868

(10,374)

1,084

589

(350)

21,673

Profit attributable to fairness
     holders

27,210

2,782

(10,351)

1,Zero33

589

(333)

20,930

Operating margin

43%










33%

Net margin

33%










25%


Unaudited three months ended June 30, 2018

Operating revenue

21,807

1,798

(four,Zero10)

99

2,564

22,258

Profit for the interval

18,580

2,562

(four,232)

831

2,578

180

20,499

Profit attributable to fairness
     holders

17,867

2,478

(four,170)

790

2,578

173

19,716

Operating margin

30%










30%

Net margin

25%










28%


Note:

(a)  Including put choices granted to staff of investee corporations on their shares and shares to be issued below investee corporations’ share-primarily based incentive plans which will be acquired by the Group, and different incentives

(b)  Including internet (positive aspects)/losses on deemed disposals/disposals of investee corporations, honest worth modifications arising from investee corporations, and different bills in relation to fairness transactions of investee corporations

(c)  Amortisation of intangible property ensuing from acquisitions

(d)  Impairment provisions for associates, joint ventures and intangible property arising from acquisitions

(e)  Income tax results of non-GAAP changes

SOURCE Tencent Holdings Limited

Related Links

http://www.tencent.com/zh-cn/investor.html

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