Lyon: Tencent (00700) rated "outperform the market", expected to have stable performance in the last quarter.
Lyon expects that Tencent's total revenue and adjusted pre-tax profits for the fourth quarter of last year will increase by 8.3% and 21.7% respectively.
Lyon released a research report stating that TENCENT (00700) has been given an "outperform" rating. The bank predicts that TENCENT will continue to achieve steady performance, with total revenue and adjusted pre-tax profit in the fourth quarter of last year expected to increase by 8.3% and 21.7% respectively, driven by its gaming and advertising businesses.
In addition, Lyon forecasts that Tencent's gaming revenue will accelerate to a year-on-year growth of 15%, benefiting from the success of new games such as "Dungeon and Warrior Mobile", "Delta Force" and "Path of Exile 2", as well as the steady performance of classic games. They also predict that with an increase in advertising volume and technological advancements, advertising revenue will also increase.
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