Tencent's Profits Decline Despite Revenue Growth, Pinduoduo and Kuaishou Report Strong Earnings

Pinduoduo surpasses earnings estimates with significant revenue growth, while Tencent faces profit challenges in 2023.

Tencent reports a 7% increase in Q4 revenue but misses expectations, with a significant drop in net profits for 2023.
Pinduoduo exceeds earnings estimates with a 123% revenue increase in Q4, driven by strong growth in transaction services.
Kuaishou marks its first profitable year, with a 15.1% revenue increase in Q4 and significant gains in online marketing revenue.
Tencent Music Entertainment sees a 36% profit jump in 2023, buoyed by a surge in paid subscriptions despite a revenue decline.
Tencent plans to more than double its stock buyback program in 2024, reflecting confidence in its financial health.