Tencent's Games Sector Likely Sustained Momentum in 3Q -- Market Talk

Dow Jones2024-10-09

0934 GMT - Tencent's 3Q games revenue growth likely remained robust while growth for its ads and fintech sectors may have moderated amid a weak Chinese macroeconomic climate, Morgan Stanley analysts say in a research note. Games revenue may have risen 12.5% on year in 3Q, with gross receipts growing around 20%, supported by sustained momentum for "Dungeon and Fighter Mobile" and solid performance of other evergreen titles, they say. While weak consumption continued to weigh on payments, MS expects Tencent to benefit from the recent integration of WeChat Pay into Alibaba's e-commerce ecosystem. Tencent could also benefit if China's consumption recovers after the recent policy pivot, they say. MS maintains a buy call on Tencent and raises its target price to HK$570.00 from HK$480.00. Shares closed at HK$434.20. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

October 09, 2024 05:34 ET (09:34 GMT)

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While weak consumption continued to weigh on payments, MS expects Tencent to benefit from the recent integration of WeChat Pay into Alibaba's e-commerce ecosystem. Tencent could also benefit if China's consumption recovers after the recent policy pivot, they say. MS maintains a buy call on Tencent and raises its target price to HK$570.00 from HK$480.00. Shares closed at HK$434.20. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 09, 2024 05:34 ET (09:34 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>Tencent's Games Sector Likely Sustained Momentum in 3Q -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent's Games Sector Likely Sustained Momentum in 3Q -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-09 17:34</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0934 GMT - Tencent's 3Q games revenue growth likely remained robust while growth for its ads and fintech sectors may have moderated amid a weak Chinese macroeconomic climate, Morgan Stanley analysts say in a research note. Games revenue may have risen 12.5% on year in 3Q, with gross receipts growing around 20%, supported by sustained momentum for \"Dungeon and Fighter Mobile\" and solid performance of other evergreen titles, they say. While weak consumption continued to weigh on payments, MS expects Tencent to benefit from the recent integration of WeChat Pay into Alibaba's e-commerce ecosystem. Tencent could also benefit if China's consumption recovers after the recent policy pivot, they say. MS maintains a buy call on Tencent and raises its target price to HK$570.00 from HK$480.00. Shares closed at HK$434.20. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 09, 2024 05:34 ET (09:34 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4581","symbol_name":"高盛持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2474211535","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474211535","pubTimestamp":1728466440,"columns":[],"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":"0934 GMT - Tencent's 3Q games revenue growth likely remained robust while growth for its ads and fintech sectors may have moderated amid a weak Chinese macroeconomic climate, Morgan Stanley analysts say in a research note. 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Games revenue may have risen 12.5% on year in 3Q, with gross receipts growing around 20%, supported by sustained momentum for \"Dungeon and Fighter Mobile\" and solid performance of other evergreen titles, they say. While weak consumption continued to weigh on payments, MS expects Tencent to benefit from the recent integration of WeChat Pay into Alibaba's e-commerce ecosystem. Tencent could also benefit if China's consumption recovers after the recent policy pivot, they say. MS maintains a buy call on Tencent and raises its target price to HK$570.00 from HK$480.00. Shares closed at HK$434.20. 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