Lates News

Citi stated that Tencent's first quarter revenue growth accelerated to 13%, mainly benefiting from the strong performance of both domestic and international games, as well as online advertising. They have raised Tencent's target price to 695 Hong Kong dollars and maintained a buy rating. Analyst Alicia Yap's report indicated that the company's solid growth strategy appears to be clear by ensuring a long growth runway for its gaming and advertising businesses, operating perennial game hits and cultivating ongoing small ad spending from advertisers. Although the narrowing of profit and revenue growth rates may be due to investments in AI, negative operating leverage is not expected to occur.