UBS Group has released a report which predicts that Tencent's Q2 revenue will rise 6% YoY. Adjusted net income is expected to increase by 34% to CNY 50.1 billion, driven by high-profit margin businesses and strong performance of joint ventures. In terms of gaming, local revenue is estimated to rise 5% YoY, with popular games performing well. Dungeon & Fighter: Origin has received enthusiastic responses and is expected to boost gaming revenue in the second half of the year. The bank expects international gaming revenue to accelerate and rise by 12% YoY in Q2. Advertising revenue is expected to rise 18% YoY, benefiting from the presence of video content and advancements in technology. Fintech revenue is estimated to increase by 5%, with an overall gross margin of 52.9%, up 5.4% YoY. The bank maintains its "buy" rating for Tencent, which is still one of the bank's top picks. The target price has been raised from HKD 480 to HKD 483, due to the better-than-expected performance of Dungeon & Fighter: Origin, with adjusted earnings per share forecast for 2024 to 2026 increased by 1% to 2%.
瑞银：上调腾讯目标价至483港元 预计次季经调整净利润按年升34%
UBS Group: Raised Tencent's target price to HKD 483, expecting net income to increase by 34% YoY in the next quarter after adjustment.
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.