Tencent Q1 2026 Earnings: Revenue Reaches 196.5B Yuan as Pony Ma Says 'Got on the AI Boat, Found It Was Leaking'

Tencent reported Q1 2026 revenue of 196.46 billion yuan, up 9% year over year, with non-IFRS operating profit also rising 9% to 75.63 billion yuan.

Free cash flow reached 56.7 billion yuan, underscoring steady cash generation alongside improved profitability.

Tencent said AI features and products are already lifting performance across cloud, digital advertising, gaming, and productivity software.

Pony Ma said AI adoption remains challenging, but the results suggest Tencent’s AI investments are beginning to pay off.