Tencent content units turned profitable at the end of 2022 · TechNode – TechNode
All businesses under Tencent’s content unit achieved profitability at the end of 2022, according to a report by local media outlet LatePost. The platform and content group (PCG) unit includes Tencent Video, which turned profitable for the first time according to the report, and Tencent News, which saw a turnaround in the October-December period after a difficult first three quarters.
Why it matters: The division’s profits are largely thanks to Tencent’s ongoing and widespread cost-cutting measures and provide a key insight into how the tech giant intends to weather the macroeconomic slowdown. The several billion in profit from the unit is likely to provide a bright spot in the tech giant’s 2022 annual financial report. However, it does not mean PCG employees can rest easy, with continued profitability remaining far from certain and Tencent CEO Pony Ma previously warning he would cut any part of the business that was unable to sustain itself.
Details: LatePost reported that reaching…
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source: https://news.oneseocompany.com/2023/01/12/tencent-content-units-turned-profitable-at-the-end-of-2022-technode-technode_2023011239123.html
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