SHENZHEN-BASED internet giant Tencent has reported year-on-year revenue and net profit increases for the second quarter of 2023.

The firm raked in more than 149.2 billion yuan (US$20.7 billion) in revenue during the second quarter, up 11% year on year, according to its financial results released Wednesday.

The firm has seen its revenue increase 11% year on year for two consecutive quarters since the beginning of this year.

Its net profit rose 33% year on year to more than 37.5 billion yuan during the same period.

Wednesday’s report noted that revenue from fintech and business services grew 15% year on year to 48.64 billion yuan, making it the business segment that contributed the most to Tencent’s revenue in the quarter. (Xinhua)