Tencent's Q1 Net Profit Soars 54%, Video Account Usage Time Increases Over 80%, Plans to Intensify Share Buybacks

Earnings Call Highlights:
- SaaS Revenue: Outstanding performance in Q1, with WeCom (Enterprise WeChat) and Tencent Meeting both seeing over 100% growth.
- Advertising Growth: Driven by WeChat Video Accounts and Mini Programs, offsetting the slowdown in domestic game revenue. Tencent’s Q1 profit saw a significant rise, with gross margin improving from 45% last year to 53%.
- Management Insights: During the earnings call, Tencent's management highlighted that Tencent Meeting's revenue doubled year-on-year in Q1, driven by increasing adoption rates among corporate clients.

According to an IDC report, Tencent Meeting ranks first in China’s enterprise cloud video conferencing market. Currently, Tencent Meeting has penetrated over 50% of top clients in various industries, with revenue continuing to grow.