腾讯控股：Higher consumer internet revenue contribution boosted margin

14 Nov 2024 CMB International Global Markets | Equity Research | Company Update Tencent (700 HK) Higher consumer internet revenue contribution boosted margin Tencent announced inline 3Q24 results: total revenue was up by 8% YoY to RMB167.2bn, in line with our/Bloomberg consensus estimate of RMB166.8/167.9bn; non-IFRS operating profit grew by 19% YoY to RMB61.3bn, in line with our estimate of RMB61.4bn. Looking ahead, we remain positive on earnings growth in 4Q24E driven by the acceleration in games revenue ...