Tencent's Game Business Likely on Track to Turn Around in 2H -- Market Talk

Dow Jones04-17

0724 GMT - Tencent's game business should be on track to turn around in 2H, HSBC Global Research says. Tencent's mobile games gross billings growth picked up in 1Q, thanks to strategic tweaks and contribution from evergreen titles, say analysts Charlene Liu and Ritchie Sun in a note. Sensortower data suggests Tencent's domestic mobile game gross billings growth rose 7% in 1Q versus 2% in 4Q of 2023, they say. HSBC expects Tencent to continue evaluating its game portfolio and make adjustments to rejuvenate underperforming games. HSBC reckons the tech giant may return at least US$17 billion-US$18 billion to investors in 2024. It sees a persistent recovery in the games business and resilient growth from ads, fintech and business services sustaining earnings growth. Shares were last at HK$300.20. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 03:24 ET (07:24 GMT)

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HSBC expects Tencent to continue evaluating its game portfolio and make adjustments to rejuvenate underperforming games. HSBC reckons the tech giant may return at least US$17 billion-US$18 billion to investors in 2024. It sees a persistent recovery in the games business and resilient growth from ads, fintech and business services sustaining earnings growth. Shares were last at HK$300.20. 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Tencent's mobile games gross billings growth picked up in 1Q, thanks to strategic tweaks and ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0032431581.USD","symbol_name":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428362826","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428362826","pubTimestamp":1713338640,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0724 GMT - Tencent's game business should be on track to turn around in 2H, HSBC Global Research says. Tencent's mobile games gross billings growth picked up in 1Q, thanks to strategic tweaks and contribution from evergreen titles, say analysts Charlene Liu and Ritchie Sun in a note. Sensortower data suggests Tencent's domestic mobile game gross billings growth rose 7% in 1Q versus 2% in 4Q of 2023, they say. HSBC expects Tencent to continue evaluating its game portfolio and make adjustments to rejuvenate underperforming games. HSBC reckons the tech giant may return at least US$17 billion-US$18 billion to investors in 2024. It sees a persistent recovery in the games business and resilient growth from ads, fintech and business services sustaining earnings growth. Shares were last at HK$300.20. 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Tencent's mobile games gross billings growth picked up in 1Q, thanks to strategic tweaks and contribution from evergreen titles, say analysts Charlene Liu and Ritchie Sun in a note. Sensortower data suggests Tencent's domestic mobile game gross billings growth rose 7% in 1Q versus 2% in 4Q of 2023, they say. HSBC expects Tencent to continue evaluating its game portfolio and make adjustments to rejuvenate underperforming games. HSBC reckons the tech giant may return at least US$17 billion-US$18 billion to investors in 2024. It sees a persistent recovery in the games business and resilient growth from ads, fintech and business services sustaining earnings growth. Shares were last at HK$300.20. 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