shunyan
2022-03-23

If you look into the 4Q results only, online ads revenue fell 13% yoy, worse than market expectations of -5% yoy. Opex is also worse than expected. 4Q results is disasterous. Prosus (Tencent proxy) is already down 5%. Tmr 700 HK is going to fall too, outlook for Tencent looks very challenging compared to other tech names...

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Comments

  • cheezzy
    2022-03-23
    cheezzy
    Yes, I also think Tencent underperformed expectations this time around.
    • cheezzyReplyshunyan
      Yes, it is time to take some steps to improve the current situation.
    • shunyan
      it's pretty bad... considering Baidu Weibo PDD JD.com all these tech names actually had in-line or better than expected results. Really wondering wth happened to Tencent to see such bad yoy decline
  • glimmzy
    2022-03-23
    glimmzy
    Are you bullish on Tencent's move behind you?
    • shunyan
      After this result, I will rather be in other tech names like JD.com, Baidu. I fear Tencent is facing same headwind as BABA. Have to see what mgmt guidance is for 2022 after conference call
  • shunyan
    2022-03-23
    shunyan
    earnings beat is also due to JD.com disposal gains, not cause of operations. Adjusting for this their net profit fell...
  • shunyan
    2022-03-23
    shunyan
    just want to caution this news did not highlight how bad 4Q results were, which is the key to look at. Pls look up more
  • Hilliton324
    2022-03-24
    Hilliton324
    The situation of enterprises is in trouble, and advertising expenditure will be greatly reduced.
  • Maxsoh49
    2022-03-24
    Maxsoh49
    Thanks for your sharing 👍
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