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<Research>Nomura Expects TENCENT (00700.HK) 3Q Non-IFRS NP to Grow by 12% YoY, Elevates TP to $757
Recommend 12 Positive 23 Negative 2 |
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TENCENT (00700.HK) will announce its 3Q25 results in mid-November, Nomura published a research report saying. The broker currently forecasted that high-margin businesses such as game and Weixin advertising will drive accelerated growth, possibly improving the gross profit margin by 4.1 ppts YoY to 57.2%, beating the market consensus of 56.2%, and boosting the quarterly non-IFRS net profit by approx. 12% YoY, which is 2% ahead of market expectations. Nomura believed that WeChat channel advertising and search advertising continue to be growth drivers for TENCENT, meanwhile AI applications may enhance advertising return rates and contribute to advertising growth. Therefore, the broker kept rating at Buy for TENCENT, and elevated its target price from $721 to $757. AASTOCKS Financial News Website: www.aastocks.com |
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