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<Research>M Stanley: TENCENT (00700.HK) 1Q Results All Round Beat; Rating Overweight
TENCENT (00700.HK)'s 1Q25 results beat expectations on all fronts, with revenue rising 13% YoY, beating market consensus by 3%, according to Morgan Stanley's research repor...
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<Research>M Stanley: TENCENT (00700.HK) 1Q Results All Round Beat; Rating Overweight
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TENCENT (00700.HK)  -7.500 (-1.455%)    Short selling $901.65M; Ratio 8.279%   's 1Q25 results beat expectations on all fronts, with revenue rising 13% YoY, beating market consensus by 3%, according to Morgan Stanley's research report.

The game business also beat estimations, with the broker estimating a 17% YoY hike in sell-through, accelerating from 4Q24. Advertising revenue grew 20%, beating market consensus by 3%. Revenue from its fintech and enterprise services business increased by nearly 5%, in line with forecasts.

Related NewsBOCI Lists Top 10 HK Stocks by Southbound Trading Net Inflows in 1Q25 (Table)
TENCENT's 1Q25 non-IFRS net profit rose 22%, beating market consensus by 4%. TENCENT repurchased shares at $17.1 billion in 1Q25, with a buyback target of over $80 billion this year.

Capital expenditures in 1Q25 were RMB27.5 billion, compared to RMB36.5 billion in 4Q24, with the guidance for full-year capital expenditures at low teens percentage of total revenue. Therefore, Morgan Stanley rated TENCENT at Overweight, with a target price of $630.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 16:25.)

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