Tencent posted a 1% increase in total revenue to RMB 145 billion ($20.8 billion) in the fourth quarter of 2022 following two successive quarters of declining revenues. The company’s TikTok-like service, Video Accounts, was a bright spot in the tech giant’s latest earnings, driving a 15% improvement in online advertising revenue compared with the same period last year. Tencent saw the amount of time users spend watching short videos and time spent looking at posts on WeChat Moments triple and double year-on-year respectively. The world’s largest video game vendor, Tencent reported a 6% decrease in domestic gaming revenue to RMB 27.9 billion, but a 5% increase in revenue from international games to RMB 13.9 billion in the quarter ending Dec. 31. The Shenzhen-based firm’s net income stood at RMB 106.3 billion, representing 12% annual growth, despite a 16% fall in yearly net profit to RMB 188.2 billion in 2022. Tencent President Martin Lau, who will quit the board in May, stated during an earnings call that artificial intelligence is expected to be a “growth amplifier” for Tencent, as advances favor the company’s core social and gaming interests. [Tencent release]