Tencent Q2 profit misses Bloomberg forecast

Tencent reported second-quarter net profit of 56 billion yuan, or $8.3 billion, below a Bloomberg forecast, as the Chinese technology company works to build revenue from artificial intelligence.

The Shenzhen-based company said in a filing posted on the Hong Kong Stock Exchange website that net profit for the second quarter of 2026 rose 0.7 percent from a year earlier but fell 4 percent from the first quarter. Bloomberg had forecast 58.4 billion yuan.

Revenue rose 11 percent during the period to 204.8 billion yuan, slightly above the Bloomberg forecast.

Tencent, the developer and operator of WeChat, said it was making progress in building what it called a new AI-empowered company. WeChat is used by more than a billion people, and users and company observers are awaiting the possible release of an AI agent built directly into the app.

Tencent also owns the developer of popular eSports titles including "League of Legends" and has operations in cloud computing and entertainment. It has increased spending on AI products in recent years alongside other Chinese technology companies including Baidu and Alibaba.