TENCENT(HK:00700) Ge Long Hui·2025-11-13 02:47Core Viewpoint - The report from Credit Lyonnais indicates that Tencent's performance in Q3 is expected to be robust, with total revenue projected to grow by 14% year-on-year to 190 billion yuan, and adjusted EBIT expected to increase by 21% to 74.1 billion yuan [1] Revenue Breakdown - Online gaming business is anticipated to grow by 18% year-on-year [1] - Online advertising revenue is expected to rise by 20%, driven by technological upgrades and transformation [1] - Revenue from commercial services is projected to grow by over 20% [1] Future Outlook - The growth momentum from online gaming, advertising, and cloud services is expected to continue into Q4 of this year [1] - Tencent is identified as the largest beneficiary of artificial intelligence applications [1] Profit Forecast - The company has raised its adjusted net profit forecasts for the next two years by 0.8% [1] - The rating of "highly confident to outperform the market" is reiterated, with a target price set at 740 HKD [1]