Apr 28, 2021 11:24 AM (GMT+8) · EqualOcean
Daiwa issued a research report reiterating Tencent's "buy" rating, with a target price of HK $870. According to the report, the company announced its first quarter results on May 20. Based on mobile games and industry data, the bank expects the company's total revenue to increase by 22.7% year-on-year to 132.6 billion yuan (the same below), and non international financial reporting standard operating profit to increase by 25.6% to 44.7 billion yuan. It is estimated that its online game revenue will increase by 17%, of which mobile game revenue will increase by 22% to 42 billion yuan. Online advertising revenue is estimated to increase by 25%, while payment growth has a chance to accelerate to 35% under the low base.