大行评级｜里昂：腾讯次季业绩胜预期 上调目标价至740港元

Core Viewpoint - Tencent's Q2 performance exceeded expectations, with revenue and adjusted operating profit growing by 15% and 19% year-on-year, surpassing the firm's forecasts by 4% and 8% respectively [1] Group 1: Business Performance - The three core businesses—online gaming, advertising, and cloud services—each achieved approximately 20% growth [1] - The upcoming launch of the mobile game "Valorant" is anticipated to contribute positively to revenue [1] Group 2: Financial Projections - The firm has raised its adjusted net profit forecasts for 2025 and 2026 by 2% and 3% respectively [1] - The target price for Tencent has been increased from HKD 710 to HKD 740, maintaining a "highly confident outperform" rating [1]