Jinwu Financial News | Citi published a research report saying,Tencent Holdings(00700) Revenue in the third quarter grew by 8% year-on-year to $167.2 billion, in line with expectations, of which gaming revenue was $51.8 billion, also higher than the forecast of $50.9 billion, and non-IFRS net profit was $59.8 billion, up 33% year-on-year, more than 10% higher than Citi and the consensus expectations. The bank believes that Tencent's overall performance in the third quarter is in line with expectations, and its adjusted operating profit significantly exceeds expectations, mainly due to the higher contribution of profits attributable to associates. Looking ahead, Citi believes that the steady growth of total international game revenue year-on-year, the extension of game deferred revenue period, and the overall recovery of domestic evergreen games can promote a considerable growth in game business revenue next year, and gives it a target price of HK$573 and a rating of "Buy".Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments