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<Research>BofAS: TENCENT (00700.HK) 3Q Results Beat
Recommend 5 Positive 19 Negative 4 |
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TENCENT (00700.HK) delivered solid results after the market closed yesterday (13th), BofA Securities issued a research report saying. Turnover grew by 15% YoY to RMB192.9 billion, 2% higher than expected. Non-IFRS net profit was RMB70.6 billion, up 18% YoY, 7% ahead of market consensus. As investors focus on the rising trend of structural AI investments and quarterly spending fluctuations, the broker looked forward to gaining more details about the 2026 capital expenditure plan from the earnings conference call. Therefore, TENCENT remains BofA Securities' sector top pick, with rating at Buy and a target price of $780. AASTOCKS Financial News Website: www.aastocks.com |
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