Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi Expects TENCENT (00700.HK) 1Q Rev. Up 5.3% YoY, Non-GAAP NP Hikes 35%
Recommend 26 Positive 46 Negative 18 |
||||
|
||||
|
Citi Research noted in a report that TENCENT (00700.HK) will announce 1Q results on 14 May. The broker predicted TENCENT's revenue to be in line with market consensus and profit likely to be slightly higher than the consensus forecast during 1Q. Domestic game revenue is expected to fall 6% YoY while international game revenue is expected to elevate 1.5% YoY in the quarter, amid a high base and a lack of meaningful game releases. Total revenue is forecasted to grow 5.3% YoY, gross profit is expected to rise 14.7% YoY, and non-GAAP net profit is expected to hike 35% YoY. Citi expected TENCENT's domestic games to return to YoY growth in 2Q, and with e-commerce seasonality likely to support video accounts advertising and live streaming fees, the broker believed total revenue growth would re-accelerate from 2Q to 4Q. Citi maintained its Buy rating and target price of $459 on TENCENT, citing the company's solid execution and sustainable momentum for faster profit growth. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
