Tencent's 2Q Profit Growth Likely Dented by AI Investment

Dow Jones

2025/07/17

0251 GMT - Tencent's 2Q profit growth was likely dented by its AI investment, Nomura analysts say in a research note. Tencent's online gaming revenue likely rose 15% on year in 2Q thanks to the resilient performance of its legacy titles like "Honor of Kings" and some recently released titles like "Delta Force," the analysts say. Its online ads revenue likely grew 18%, driven by video account ads, they say. Despite higher AI spending, Nomura thinks Tencent's adjusted operating margin should be able to sustain its expansion streak. Nomura maintains a buy rating on Tencent with its target price unchanged at HK$670.00.

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Tencent&#39;s online gaming revenue likely rose 15% on year in 2Q thanks to the resilient performance of its legacy titles like &#34;Honor of Kings&#34; and some recently released titles like &#34;Delta Force,&#34; the analysts say. Its online ads revenue likely grew 18%, driven by video account ads, they say. Despite higher AI spending, Nomura thinks Tencent&#39;s adjusted operating margin should be able to sustain its expansion streak. Nomura maintains a buy rating on Tencent with its target price unchanged at HK$670.00. </p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tencent's 2Q Profit Growth Likely Dented by AI Investment</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent's 2Q Profit Growth Likely Dented by AI Investment\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-07-17 17:32</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<html><head></head><body><p>0251 GMT - <a href=\"https://laohu8.com/S/TCEHY\">Tencent</a>&#39;s 2Q profit growth was likely dented by its AI investment, <a href=\"https://laohu8.com/S/NMR\">Nomura</a> analysts say in a research note. Tencent&#39;s online gaming revenue likely rose 15% on year in 2Q thanks to the resilient performance of its legacy titles like &#34;Honor of Kings&#34; and some recently released titles like &#34;Delta Force,&#34; the analysts say. Its online ads revenue likely grew 18%, driven by video account ads, they say. Despite higher AI spending, Nomura thinks Tencent&#39;s adjusted operating margin should be able to sustain its expansion streak. Nomura maintains a buy rating on Tencent with its target price unchanged at HK$670.00. </p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999001846.SGD","symbol_name":"Schroder Asian Equity Yield A Dis SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2552177664","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2552177664","pubTimestamp":1752744774,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0251 GMT - Tencent's 2Q profit growth was likely dented by its AI investment, Nomura analysts say in a research note. Tencent's online gaming revenue likely rose 15% on year in 2Q thanks to the resilient performance of its legacy titles like \"Honor of Kings\" and some recently released titles like \"Delta Force,\" the analysts say. Its online ads revenue likely grew 18%, driven by video account ads, they say. Despite higher AI spending, Nomura thinks Tencent's adjusted operating margin should be able to sustain its expansion streak. Nomura maintains a buy rating on Tencent with its target price unchanged at HK$670.00. Shares are last 0.6% lower at HK$513.50. 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