Bocom Intl maintains the expectation of accelerated growth in mobile game revenue for Tencent (00700) in the third and fourth quarters (16%/21%).
According to the Securities Times App, Bocom Intl released a research report stating a leading rating for the internet plus-related industry. The bank maintains the expectation of accelerated growth in mobile game revenue for Tencent (00700) in the third and fourth quarters (16%/21%), focusing on the stability of "MDnF" revenue and the launch progress of new games like "Dawn of Stars".
The report mentions that NetEase-S (09999) is expected to show marginal improvement in mobile game performance in the fourth quarter, with valuation at historical lows. In October, Tencent's revenue maintained growth momentum, with a 13% net increase in local mobile games year-on-year. "MDnF" had a revenue of 1.3 billion RMB in October, continuing the downward trend compared to the previous month. Overseas revenue increased by 22% year-on-year, still driven by the flagship mobile game from Supercell. NetEase's overseas revenue increased by 9% year-on-year, driven by "Peak Speed" in the Japanese market.
