Tencent made $7.4 billion in profit in Q1 2021; a huge jump of 65%

Tencent's management style and business model have proven to be very resilient.


Alfred Lee

25 May, 2021

Tencent made $7.4 billion in profit in Q1 2021; a huge jump of 65% | BEAMSTART News

Tencent, the largest technology conglomerate in China, has had a good first quarter.

The company's Q1 2021 profit jumped by over 65% to $7.4 billion, on the back of $21 billion in revenue.

Key Highlights

  • Tencent's Q1 2021 revenues beat analysts estimates, hitting $21 billion with $7.4 billion in profit.
  • A large part of the growth in revenues was from the company's Gaming, Fintech, and Cloud business units.
  • According to CEO, Pony Ma, Tencent will increase investments in enterprise software, high-production-value games, and short-form video entertainment.

Why It Matters

  • Tencent's grip over China's population continues to strengthen as the company's service extends to all facets of everyday life — communication, social media, entertainment, business services, payments, and more.
  • The company's management style has also proven to be resilient despite it being a target of China's antitrust regulators.
  • Outside China, the company also faces heavy competition from ByteDance, especially with apps like TikTok slowly creeping in on Tencent's social media market dominance.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Head of Engineering

Rutter

New York,

Full Time

USD 280000 — USD 300000 yearly

Head of Growth

Silurian

Washington,

Full Time

USD 120000 — USD 200000 yearly

Software Engineering Intern

Raycaster

California,

Internship

USD 80000 — USD 160000 yearly

Backend Engineer (India)

VectorShift

Full Time

USD 20000 — USD 30000 yearly

Analytics Engineer

Roboflow

California,

Full Time

USD 145000 — USD 180000 yearly

Solutions Engineer

Forage

Full Time

Salary Undisclosed

Sales Director, Insurance

Veryfi, Inc.

Full Time

USD 130000 yearly

Visual UI/UX Designer

Tasker ai

California,

Full Time

USD 70000 yearly

Lead Site Reliability Engineer

Happyrobot

California,

Full Time

USD 105000 — USD 160000 yearly

Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

Work Experience Not Specified

Education Not Specified

beamstart.com

Also Mentioned

Tencent

A world-leading internet and technology company that develops innovative products and services to improve the quality of life of people around the world.

Related Topics

China

More Related Stories

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).