Tencent reported a 9% increase in revenue from its fintech and business services division for the first quarter of 2026, reaching RMB59.9 billion (US$8.68 billion).
According to the company, higher revenues from commercial payments and wealth management drove the growth in fintech services.
Commercial payment activity grew at a faster year-on-year pace, supported by an increase in transaction numbers and higher value per transaction across the retail and dining sectors.
Business services revenue surged by 20% during the first quarter.
Higher demand for cloud services across domestic and international markets, including demand for AI-related services, supported this increase.
“Our core businesses continued to grow their engagement, revenue and profit, providing the cash flow to fund our AI investments,”
said Ma Huateng, Chairman and CEO of Tencent.
The company highlighted rapid growth in its enterprise AI solutions.
Tencent said it believes its WorkBuddy productivity service is currently the most widely used AI agent service of its kind in China, based on daily active users.
Tencent also reported higher technology service fees linked to growing transaction volumes on its eCommerce platforms.
Across the broader group, Tencent generated total revenues of RMB196.5 billion (US$28.49 billion) for the quarter, an increase of 9% from the previous year.
During the same period, the company repurchased approximately 12.7 million shares on the Hong Kong Stock Exchange for an aggregate consideration of HKD7.6 billion (US$969 million).
Featured image credit: Edited by Fintech News Hong Kong, based on image by diloka107 via Magnific
