招银国际:腾讯控股毛利率持续改善 维持“买入”评级

金吾资讯
15 May

招银国际研报指,腾讯控股(00700)公布了1Q25业绩:总收入同比增长13%,达到1,800亿元人民币,较彭博一致预期高3%,主要由于游戏/营销收入的强劲增长(分别同比增长24%/20%);非IFRS下净利润同比增长22%,达到613亿元,较一致预期高3%,主要得益于良好的营收表现以及好于预期的毛利率提升(同比提升3.2个百分点)。在高毛利率业务收入占比提升和成本效率优化的推动,公司毛利率持续...

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