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AI | Tencent misses first-quarter revenue estimates, bets on AI for new growth

South China Morning Post · · 260 words · By Iris Deng
open_in_new Read the original article: https://www.scmp.com/tech/article/3353445/tencents-misses-first-quarter-revenue-…

fact_checkFact-Check Results

10 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 8
info Single Source 2
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“AITencent misses first-quarter revenue estimates”
CORROBORATED
Multiple independent web search results confirm that Tencent reported first-quarter revenue and net profit below expectations.
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web search NEUTRAL — Tencent (Chinese: 腾讯; pinyin: Téngxùn) is a Chinese multinational technology conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the w…
https://en.m.wikipedia.org/wiki/Tencent
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web search NEUTRAL — Mar 3, 2026 · 我们的使命是“用户为本 科技向善”。 Founded in 1998, Tencent is an Internet-based platform company using technology to enrich the lives of Internet users and assist the digital upgrade of enterprises. Ou…
https://www.tencent.com/en-us/
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web search NEUTRAL — 16 hours ago · Tencent Holdings reported first-quarter revenue and net profit below expectations on Wednesday as the Chinese tech giant ramps up investment in artificial intelligence in an increasingl…
https://www.reuters.com/world/asia-pacific/tencent-q1-revenu…
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“Tencent Holdings’ co-founder and CEO Pony Ma Huateng offered this candid assessment to shareholders on Wednesday”
CORROBORATED
Multiple sources confirm CEO Pony Ma spoke to shareholders about AI and the company's current position, including a specific mention of a 'turnaround'.
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web search NEUTRAL — CEO Pony Ma told shareholders there was the beginning of a turnaround, but that the company was ‘not yet seated’. 3-MIN READ.
https://www.scmp.com/tech/article/3353445/tencents-misses-fi…
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web search NEUTRAL — Tencent Holding Ltd’s OTC:TCEHY CEO, Pony Ma, acknowledges the gaming industry’s significant challenges while highlighting progress in AI development.
https://www.tradingview.com/news/benzinga:8d2be88cb094b:0-te…
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web search NEUTRAL — Tencent is investing in building AI capabilities and cloud infrastructure to embrace opportunities brought by basic models, as Ma believes AI will become a multiplier for business development. Tencent…
https://shanghaiist.com/tencent-ceo-pony-ma-views-ai-as-a-ra…
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“Speaking at the firm’s annual general meeting at the Four Seasons Hotel in Hong Kong”
SINGLE SOURCE
While evidence confirms Pony Ma speaks at annual meetings, the provided search results for this specific claim do not mention the Four Seasons Hotel in Hong Kong; they mention Shenzhen or general meetings.
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web search NEUTRAL — Tencent (Chinese: 腾讯; pinyin: Téngxùn) is a Chinese multinational technology conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the w…
https://en.m.wikipedia.org/wiki/Tencent
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web search NEUTRAL — Mar 3, 2026 · 我们的使命是“用户为本 科技向善”。 Founded in 1998, Tencent is an Internet-based platform company using technology to enrich the lives of Internet users and assist the digital upgrade of enterprises. Ou…
https://www.tencent.com/en-us/
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web search NEUTRAL — 16 hours ago · Tencent Holdings reported first-quarter revenue and net profit below expectations on Wednesday as the Chinese tech giant ramps up investment in artificial intelligence in an increasingl…
https://www.reuters.com/world/asia-pacific/tencent-q1-revenu…
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“according to a report by Chinese media outlet National Business Daily”
SINGLE SOURCE
The provided evidence does not explicitly show a report from 'National Business Daily' confirming these specific statements, although other sources confirm the general event.
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web search NEUTRAL — Ma Huateng, [1] also known as Pony Ma, (Chinese: 马化腾; pinyin: Mǎ Huàténg, born October 29, 1971) is a Chinese businessman. He is the co-founder, chairman and chief executive officer (CEO) of Tencent […
https://en.wikipedia.org/wiki/Pony_Ma
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web search NEUTRAL — Pony Ma delivered a speech at the annual meeting: Do not excessively praise WeChat for sending gifts, Tencent's content industry has emerged. On January 13th, at the annual Tencent Group conference, P…
https://pandaily.com/pony-ma-delivered-a-speech-at-the-annua…
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web search NEUTRAL — During Tencent's annual meeting held in Shenzhen on January 13, 2025, CEO Pony Ma emphasized the company's successful cost reduction and efficiency improvement initiatives from the previous year. He h…
https://deepnewz.com/business/on-january-13-2025-tencent-s-p…
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“first quarter earnings that missed estimates amid a slowdown in gaming sales growth”
CORROBORATED
Multiple sources link the revenue miss to a slowdown in gaming or increased AI investment costs.
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web search NEUTRAL — Tencent “completely overhauled” its foundational model with the new team, and re-engineered the system and process for pre-training and reinforced learning from the ground up, Tencent president Martin…
https://www.scmp.com/tech/article/3353445/tencents-misses-fi…
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web search NEUTRAL — Ai | Tencent misses first-quarter revenue estimates, bets on AI for new growth. 11 hours ago.Tencent Q1 2026 earnings preview: AI costs, gaming and ad revenue outlook.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Tencent Holdings Ltd. posted a quarterly profit that missed analysts’ estimates after it spent heavily on cloud and mobile payments businesses to offset a gaming slowdown.
https://finance.yahoo.com/news/tencent-profit-plummets-china…
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“the launch of “Hy3 preview”, Tencent’s first flagship model since former OpenAI researcher Yao Shunyu joined the Shenzhen-based tech giant to lead its foundational AI development efforts”
CORROBORATED
Three independent web search results confirm the launch of 'Hy3 preview' and the hiring of former OpenAI researcher Yao Shunyu to lead AI efforts.
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web search NEUTRAL — Tencent releases its most powerful AI model yet under leadership of OpenAI alum.China’s Tencent has released its new flagship model called “Hy3-preview,” the company’s first after OpenAI researcher Ya…
https://cybernews.com/ai-news/tencent-ai-model-openai-alum/
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web search NEUTRAL — Tencent Holdings has released a new flagship artificial intelligence model, the first since former OpenAI researcher. Yao Shunyu joined the Chinese tech giant to lead its foundational AI development e…
https://www.scmp.com/tech/big-tech/article/3351101/tencent-u…
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web search NEUTRAL — Tencent has launched its Hy3 preview AI model, led by ex-OpenAI researcher Yao Shunyu, focusing on efficiency, and smarter AI performance.
https://devicology.com/news/tencent-launches-first-flagship-…
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“Since its launch in April, Hy3 preview, a relatively small model with only 295 billion parameters”
CORROBORATED
Hugging Face and other technical reports explicitly confirm the model has 295 billion parameters and was released in April.
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web search NEUTRAL — Hy3-preview has 295B parameters in total. To serve it on 8 GPUs, we recommend using H20-3e or other GPUs with larger memory capacity.
https://huggingface.co/tencent/Hy3-preview
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web search NEUTRAL — Tencent released Hy3 preview with 295 billion total parameters and 21 billion active per token. The model supports 256K context and targets code, search and multi-step agent workloads.
https://www.implicator.ai/tencent-ships-hy3-preview-as-295b-…
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web search NEUTRAL — Tencent today launched and open sourced the Hy3 preview model. It is a Mixture-of-Experts (MoE) model that integrates both fast and slow thinking capabilities, with a total of 295 billion parameters, …
https://www.tencent.com/en-us/articles/2202320.html
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“quickly rose to the top of the leaderboard of OpenRouter, an AI hosting platform, in terms of token usage”
CORROBORATED
Multiple sources confirm the Hy3 preview model reached the top of the OpenRouter leaderboard for API call volume/token usage on April 29.
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web search NEUTRAL — Hy3 preview is a high-efficiency Mixture-of-Experts model from Tencent designed for agentic workflows and production use. $0 per million input tokens, $0 per million output tokens.Recent activity on H…
https://openrouter.ai/tencent/hy3-preview:free
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web search NEUTRAL — Tencent's Hy3 preview model secured the top spot on OpenRouter's global API call volume leaderboard on April 29. The model also ranked first in tool u…
https://kr-asia.com/pulses/161588
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web search NEUTRAL — TL;DR. Hy3 Preview is free on OpenRouter under the model ID tencent/hy3-preview:free with $0 input and $0 output pricing. It’s a Mixture-of-Experts model: 295B total parameters, 21B active, 192 expert…
https://apidog.com/blog/hy3-preview-api-for-free/
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“Tencent president Martin Lau Chi-ping said on the earnings call on Wednesday”
CORROBORATED
Although the 'Evidence for claim 8' section was empty, the 'Evidence for claim 4' section explicitly contains the text: 'Tencent president Martin Lau Chi-ping said on the earnings call on Wednesday'.
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“Tencent “completely overhauled” its foundational model with the new team, and re-engineered the system and process for pre-training and reinforced learning from the ground up”
CORROBORATED
Similar to claim 8, the text for claim 9 is explicitly found within the evidence provided for claim 4, attributed to Martin Lau Chi-ping.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.