0309 GMT - Tencent could report in-line 4Q results with likely upside from gaming and advertising offsetting the fintech weakness, Citi analysts say in a research note. Citi expects 4Q revenue and adjusted net profit to rise 7.3% and 25% respectively. The estimates are tweaked lower to reflect slower growth in social network and community revenue and more conservative assumption for fintech and business services revenue growth. However, Tencent's game pipeline, with 84 mobile titles, remains strong, they say. While Tencent's fundamentals remain solid, its inclusion on a U.S. Defense Department list of companies with alleged Chinese military ties will likely weigh on shares near term, Citi says. It maintains a buy call on Tencent and lowers its target to HK$563.00 from HK$573.00. Shares are last 2.1% higher at HK$373.60. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 22:09 ET (03:09 GMT)
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