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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD (0700)
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Tencent : profit soars 61% in Q1

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05/17/2018 | 06:49am CEST

Mubasher: China’s Tencent on Wednesday reported a 61% year-on-year surge in its profits for the first quarter ended March 2018, beating market expectations, backed by its hugely successful gaming business.

The Hong Kong-based company’s net profits amounted to RMB 23.29 billion ($3.7 billion) in Q1-18, compared to RMB 14.47 billion in Q1-17.

Analysts polled by Thomas Reuters had expected Tencent's first-quarter earnings to reach RMB 17.5 billion.

The technology giant generated a revenue of RMB 73.53 billion ($11.5 billion) in the first quarter of 2018 versus RMB 49.55 billion in the same quarter last year. Analysts had projected the firm's revenue to hit RMB 71.04 billion.

The gaming business boosted Tencent’s quarterly revenues as the Chinese company received $21.7 billion revenue from the smartphone games alone with a 68% year-on-year increase.

Meanwhile, revenues from online game business were driven by the two hit games, namely PlayerUnknown's Battlegrounds and Fortnite.

However, the multiplayer online game PlayerUnknown's Battlegrounds "will negatively impact our financials in the short term because we have not yet monetised the games in the China market,” the Chinese giant’s president Martin Lau Chi-ping said.

He added that the game would generate “substantial revenue” once the company begins monetisation.

In addition, Tencent's online advertising revenues rose 55% in the first three months of the year, compared to the prior-year period, while total revenues from video business saw a 75% year-on-year surge.

Operating margin also increased 42% to RMB 30.69 billion in January - March from a 39% increase to RMB 19.27 billion during the same period last year.

Tencent managed to raise its operating margin by 8% in the first quarter of 2018, compared to the fourth quarter of 2017, despite the capital expenditure increased 200% to RMB 6.3 billion during the quarter.

“We continued investing actively in our strategic priority areas … to fulfil our mission of enhancing quality of life via internet services,” Tencent’s CEO Pony Ma Huateng said.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CNY)
Sales 2018 339 B
EBIT 2018 107 B
Net income 2018 86 081 M
Finance 2018 89 438 M
Yield 2018 0,29%
P/E ratio 2018 35,76
P/E ratio 2019 28,22
EV / Sales 2018 8,70x
EV / Sales 2019 6,31x
Capitalization 3 043 B
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 425  CNY
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Zhi Dong Zhang Chief Technology Officer
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