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<Research>CMBI: TENCENT (00700.HK) 1Q Profit Growth Stable; AI Progress Solid
Recommend 16 Positive 33 Negative 9 |
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TENCENT (00700.HK) charted total revenue growth of 9% YoY in 1Q, slightly below expectations, CMBI mentioned in its report. Non-IFRS operating profit added 9% YoY, broadly in line. Excluding investment in new AI products, non-IFRS operating profit hiked 17% YoY, indicating that TENCENT possesses strong operating leverage and the ability to maintain stable profit growth even while increasing investment in AI. The broker largely maintained its earnings forecasts for FY26-28 and reiterated a TP of HKD750, reaffirming a Buy rating. It believed that TENCENT's earnings are resilient; paired with its continued accumulation of competitiveness in AI, the current risk-reward is attractive. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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