To The Moon

Jinwu Financial News Citigroup issued a research report stating that,Tencent Holdings(00700) Revenue in the third quarter increased by 8% year-on-year to 167.2 billion yuan, in line with expectations. Among them, game revenue was 51.8 billion yuan, which was also higher than the forecast of 50.9 billion yuan. Non-international financial reporting standards net profit recorded 59.8 billion yuan, a year-on-year increase of 33%, more than 10% higher than Citigroup and market consensus expectations. The bank believes that Tencent's overall performance in the third quarter was in line with expectations, and its adjusted operating profit significantly exceeded expectations, mainly due to the higher contribution of profits from associated companies. Looking forward to the future, Citigroup believes that the steady year-on-year growth of total international game revenue, the extension of game deferred revenue period, and the recovery of the overall performance of domestic evergreen games can drive the game business revenue to record a considerable growth next year. "Buy".