Xin Lang Cai Jing·2025-12-16 14:04Core Viewpoint - Tencent Holdings is expected to report mixed financial results for Q4 2025, with revenue forecasts showing a slight decline to moderate growth, while net profit forecasts indicate a significant potential drop alongside some growth opportunities [1][7]. Financial Forecasts - The predicted revenue for Q4 2025 ranges from 168.88 billion to 198.21 billion RMB, reflecting a year-on-year change of -2.1% to 14.9% [1][7]. - The expected net profit for Q4 2025 is forecasted between 30.63 billion and 67.16 billion RMB, with a year-on-year change of -40.3% to 30.8% [1][7]. - Adjusted net profit is anticipated to be between 57.47 billion and 76.46 billion RMB, showing a year-on-year growth of 3.9% to 38.2% [1][7]. Business Segment Insights - The gaming segment has shown robust growth, with domestic game revenue increasing by 15% and international game revenue rising by 43% [5][11]. - AI technology is driving significant growth in advertising revenue, with a year-on-year increase of 21% attributed to improved click-through and conversion rates [11]. - The company’s AI strategy, particularly the deployment of its leading model, is accelerating applications in WeChat and cloud services, contributing to overall revenue growth [11]. Analyst Predictions - Analysts from various firms have provided revenue and profit forecasts, with the average revenue estimate at 193.56 billion RMB, reflecting a 12.2% year-on-year growth [3][8]. - The median revenue forecast stands at 195.51 billion RMB, indicating a 13.4% year-on-year increase [3][8]. - Notable predictions include Goldman Sachs estimating revenue at 197.74 billion RMB with a 14.7% growth rate, and Morgan Stanley forecasting 196.01 billion RMB with a 13.7% growth rate [3][8].