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Brokers Anticipate TENCENT 3Q Adj. NP to Rise 12%; Focus on Gaming/ Advertising Prospects/ AI Investment
2025-11-06 14:37:12
TENCENT (00700.HK) is set to announce its 3Q25 results next Thursday (13th).

According to the forecasts from 11 brokers as summarized by our reporters, TENCENT's 3Q25 non-IFRS net profit is expected to range from RMB65.2 billion to RMB68.895 billion, compared to RMB59.813 billion in the same period last year, a YoY increase of 9-15.2%. The median of RMB67.052 billion also marks a YoY rise of 12.1%.

Investors will be eyeing Tencent Cloud's revenue growth, capital investment in AI, operational strategies (especially the Hunyuan model, the potential and application scenarios of the WeChat ecosystem in long-term AI usage, chip procurement and application, and data center expansion), and shareholder return guidance.

Broker │ 3Q25 Non-IFRS NP Forecast (RMB) │ YoY Change
Goldman Sachs │ 68.895 billion │ +15.2%
CLSA │ 67.542 billion │ +12.9%
Haitong International │ 67.507 billion │ +12.9%
Morgan Stanley │ 67.246 billion │ +12.4%
Nomura │ 67.23 billion │ +12.4%
UBS │ 67.052 billion │ +12.1%
CICC │ 67.006 billion │ +12%
China Merchants Securities │ 66.5 billion │ +11.2%
Citi │ 66.425 billion │ +11.1%
Jefferies │ 66 billion │ +10.3%
Huatai Securities │ 65.2 billion │ +9%

Calculated based on TENCENT's 3Q24 non-IFRS Net Profit of RMB59.813 billion.
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