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
