GO
| HSI1 | 18,475.92 | +268.79 | 116.19B |
| HSCEI1 | 6,547.29 | +110.20 | 55.14B |
| Back Zoom + Zoom - Block Traded | |
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2024-04-25 11:33:01 HSBC Global Research was too optimistic on NTES-S (09999.HK)'s revenue growth for 2024, due to the weak performance from its newly-launched Condor Hero, a drop in revenue from the PC version of Fantasy Westward Journey and a delay in the release of the mobile game version of Where Winds Meet, HSBC Global Research issued a research report saying. HSBC Global Research lowered its 2024 game revenue growth forecast for NTES-S to 10%, and maintained its 10% game revenue CAGR forecast from 2024 to 2026. It is expected that PC game revenue will fall 3% YoY in 2024, while mobile game revenue will rise 14% YoY. HSBC Global Research reduced its 2024 to 2026 earnings forecasts for the Company by 1-3%, and chopped its target price from $203 to $197, with rating kept at Buy. HSBC Global Research also forecasted NTES-S' 1Q24 revenue to rise 3% YoY, in which game revenue will grow 3% YoY, with gross profit margin improving to 60%, and adjusted net profit increasing 11% YoY. ~ AAStocks Financial News Web Site: www.aastocks.com | |