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2025-01-23 10:58:55 TENCENT (00700.HK) is envisioned to keep delivering solid results, with total revenue and adjusted EBIT for 4Q24 up 8.3% and 21.7%, respectively, fueled by its games and ad businesses, CLSA said in a research note. CLSA forecast that Tencent's game revenue will accelerate to 15% YoY growth on the ride of the success of new games DnF Mobile, Delta Force and Path to Exile 2, as well as the solid performance of classic games. The ad revenue is expected to grow as ad volume heightens and technology advances. The inclusion of Tencent in the China military company (CMC) list of the US may exert pressure on Tencent's share price in the short term. Yet, CLSA considered that Tencent's daily share buybacks have already doubled, so the inclusion will have limited impact on the business. The broker has an Outperform rating on Tencent H-shares. ~ AAStocks Financial News Web Site: www.aastocks.com | |