TENCENT(HK:00700) 贝塔投资智库·2025-05-14 03:52Core Viewpoint - Tencent Holdings is expected to report strong Q1 2025 results, with revenue and earnings per share projected to grow by 10% and 20% year-on-year, respectively, driven by high-margin businesses like advertising and gaming, as well as operational leverage [1][2][5] Group 1: Financial Performance Predictions - Goldman Sachs forecasts Tencent's Q1 revenue to grow by 10% year-on-year, reaching approximately 1,753 billion RMB, with adjusted EBIT expected to rise by 15% to 673 billion RMB [1][2] - Nomura anticipates Tencent's Q1 total revenue to increase by 10% to 1,760 billion RMB, with non-IFRS operating profit expected to rise by 19% to 700 billion RMB, exceeding market expectations [2] - Guosen Securities predicts Tencent's Q1 revenue to reach 1,765 billion RMB, reflecting an 11% year-on-year growth, with online advertising and gaming sectors contributing significantly [3] Group 2: Business Segment Insights - Gaming revenue is expected to grow by 15% year-on-year, driven by strong performance from established titles like "Honor of Kings" and new releases such as "Dungeon & Fighter Mobile" [2][3] - Online advertising revenue is projected to increase by 18% year-on-year, supported by the growth of video account ads and improved advertising technology [4][5] - Financial technology and enterprise services revenue is expected to grow by 5% year-on-year, with payment services being a major contributor [4] Group 3: Long-term Growth Potential - Tencent's unique WeChat ecosystem and global gaming assets are seen as key drivers for sustained profit growth, with a projected annual compound growth rate of 15% to 20% over the next three years [2][5] - The company is positioned well for the AI era, with significant potential in areas like WeChat e-commerce and AI-driven business enhancements not yet reflected in current profit forecasts [5]