Tencent’s 1Q Results Surprised on the Upside; Increasing FVE to HKD 265/USD 34
Tencent delivered strong top-line growth in the first quarter, up 55% year on year, which beat both our estimates and market consensus. The upside surprise was mainly due to strong sales in online games and digital content services, as well as the explosive growth of new initiatives, mainly cloud and payment services. However, the decline in the gross margin was faster than our expectation, owing to heavy spending on content, particularly video content. In the first quarter, the gross margin was...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.