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《大行報告》花旗下調騰訊(00700.HK)目標價至503元 料首季業績符預期
花旗發表研究報告指,騰訊(00700.HK)將於下月17日公布首季業績,預期符合預期,估計首季總收入按年增長6.7%至1,445億元人民幣,非美國通用會計準則淨利潤按年增長25%至320億元人民幣或22%的利潤率,是由於在線廣告收入增長27%,另金融科技和企業服務(FBS)收入增9%。雖然遊戲活動受惠於有效的農曆新年期間推廣和新遊戲發布,但由於基數效應和延遲的收入確認,該行保守地預計,遊戲收入為按年持平。 該行表示,踏入今年次季或下半年,預計騰訊將加快發布新遊戲,及視頻賬戶的持續增長,雲業務收入恢復增長和金融科技環境的緩和,首季總收入按年增長將進一步加快。該行指,由於集團穩健的執行力、彈性的商業模式和股東回報,將目標價由520元下調至503元,維持「買入」評級並將其納入新焦點名單。 展望第二季,該行料騰訊總收入按年升12.7%至1,510億元人民幣,非美國通用會計準則淨利潤按年增長20.7%至340億元人民幣。
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