0410 GMT - Tencent's gaming outlook stays solid, according to HSBC analysts in a research note. The social media and gaming giant has strengthened its game portfolio, with gross billings for its popular titles, such as Honor of Kings, continuing healthy growth, HSBC notes. However, the company missed 3Q international games growth consensus expectations. This was mainly due to a higher retention rate for selected titles, which could lead to slower revenue recognition, HSBC notes. The analysts keep a buy rating, and a target price at HK$570.00 on the stock, which is up 1.6% at HK$410.40. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 23:10 ET (04:10 GMT)
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