TENCENT(HK:00700) Ge Long Hui·2025-10-14 03:14Core Viewpoint - Citigroup's report indicates that Tencent is expected to deliver robust performance in its third-quarter results on November 13, with total revenue and profit likely to meet or exceed expectations [1] Group 1: Financial Performance Expectations - The forecast for Tencent's third-quarter revenue, gross profit, and operating profit is projected to grow year-on-year by 13.5%, 20.9%, and 16.9% respectively [1] - The anticipated growth in Tencent's marketing services revenue is expected to maintain the momentum seen in the first half of the year, with a year-on-year increase of approximately 20% driven by advancements in AI-driven advertising technology, continued growth in video accounts, and developments in WeChat search and mini-stores [1] Group 2: Business Segment Insights - The gaming segment shows potential for growth, primarily benefiting from the strong momentum of titles such as "Delta Action" and "Peacekeeper Elite," the recovery of "Honor of Kings," and the steady rebound of "Dungeon & Fighter" and "Teamfight Tactics" [1] Group 3: Investment Rating - Citigroup maintains a "Buy" rating for Tencent, with a target price set at HKD 735 [1]