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<Research>JPM: TENCENT 3Q Results Solid, In Line
Recommend 28 Positive 39 Negative 26 |
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TENCENT (00700.HK)'s 3Q24 results were solid and had minimal impact on its recent share price movement, JP Morgan said in a research report. The group's adjusted operating profit still hiked 19% YoY despite a weak consumption environment, which was within street consensus, and its 3Q24 revenue and adjusted operating profit were both broadly in line. JP Morgan said that adjusted net profit topped the broker's and the market's expectations, boosted in particular by net gains from investments and share of profit of associates and JVs, which are likely to be driven by Pinduoduo (PDD.US) or KUAISHOU-W (01024.HK). AAStocks Financial News |
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