Tencent: Updates on Gaming and Other Business Segments for 1Q24
What’s New: We up our 1Q24 and FY24 top-line estimates as online gaming could fare better than our initial expectations partly driven by positive progress on change in monetization strategy coupled with new game launches such as DnF Mobile in 2Q. In this note, we discuss key updates including near-term outlook for segments including games, ads, fintech and business services.Analysts:
Jin Yoon
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms. The Online Advertising segment is mainly engaged in display based and performance based advertisements. The Others segment is mainly involved in provision of payment related services, cloud services and other services.
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