STOCKS | Galaxy Overseas Sees Tencent Second-Quarter Results Hold Firm
2026-07-23 08:14:15
According to Jin10, analysts at Galaxy Overseas said in a research report that Tencent's second-quarter results are expected to hold firm, supported by its gaming and advertising businesses. Galaxy Overseas expects Tencent's domestic gaming revenue to rise 8% year on year in the second quarter, while international gaming revenue is forecast to grow 15%. Analysts said Tencent may increase investment related to artificial intelligence in the second half of the year to upgrade its Hunyuan large model, cloud infrastructure, and AI agent services. Galaxy Overseas also expects the company's full-year capital expenditure to reach 103 billion yuan, and said Tencent may step up its capex plans in the second half. The firm kept an Overweight rating on Tencent Holdings (00700.HK) with a target price of HK$702.00.
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