On the afternoon of August 14th, Sina Technology reported that Tencent released its Q2 2024 financial report with total revenue of 161.1 billion yuan, an increase of 8% year-on-year. Among them, the revenue of enterprise service business achieved double-digit growth rate, benefiting from the growth of cloud computing service revenue (including the commercialization of WeChat for enterprises) and the growth of video merchants' technical service fees.
According to the financial report, Tencent's R&D expenses for Q2 reached 17.277 billion yuan. Since 2018, the company has invested more than 302.609 billion yuan in R&D over six years, continuously promoting core technology research and development and enhancing product competitiveness. Based on the domestic first-class basic model "Tencent Hybrid", Tencent launched the AI assistant Tencent Yuangbao, which has competitive advantages in accurate image understanding, advanced natural language processing, and AI search enhanced by Tencent's unique content ecosystem.
During the quarter, Tencent Cloud also released three AI engine tools such as the Large-scale Knowledge Engine and high-performance computing services such as the proprietary cloud intelligent calculation suite, committed to reducing the landing threshold of large models and shortening the distance from models to applications.
In addition, Tencent's self-developed SaaS and PaaS products are accelerating commercialization and have increased penetration rates in industries such as pharmaceuticals, manufacturing, and retail, serving many benchmark customers such as Fuyao Glass, Coca-Cola, Weilong, Midea, and State Grid, with penetration rates exceeding 50% in the top customers of multiple industries. Many companies are effectively improving collaboration efficiency and reducing business travel through Tencent Meeting Enterprise Edition.