Market News

2024.07.17 11:36

Research Reports CLSA expects TENCENT (00700) 2Q24 adj EBIT up 24%

(Infocast News) CLSA expects TENCENT (00700) to deliver solid 2Q24 results, with total revenue up 8% YoY at RMB161.6 billion and adj EBIT up 24% YoY at RMB57.1 billion, boosted by a game rebound and robust ad growth. The firm forecasts game revenue grew 7% YoY with a revival of major titles & the strong debut of DnF Mobile. Ad growth should continue to be supported by video accounts & ad tech enhancement. Its margin should maintain its upward trend. CLSA believes game revenue growth will accelerate in 2H24 with a solid pipeline and deferred revenue. TENCENT is its top pick in the sector; O-PF. (WL)

Data Source：INF