《大行报告》大摩:腾讯(00700.HK)上季业绩符预期 指公司需更清晰解说监管风险
摩根士丹利发表报告表示,腾讯(00700.HK)去年第四季业绩符合预期,指上季收入高於市场同业原预期2%,主要是广告业务收入按年升22%及金融科技与商业服务(FBS)按年升29%略优预期,非国际会计准则营运溢利较同业预测低3%,主要是销售和管理费用较高影响。
该行表示,持续喜爱腾讯盈利增长具质素的表现,但公司需要更清解说在疫後业务正常化进程、及所面临的监管风险,重申对腾讯「增持」评级及目标价820元。
大摩指,腾讯去年第四季增值业务收入670亿人民币(按年升28%;按季跌4%),大致符合预期,线上广告业务收入250亿人民币(按年升22%;按季升15%)高於该行及市场同业原预期介乎2%至4%;至於金融科技与商业服务收入录380亿人民币(按年升29%;按季升16%),高於该行及市场同业原预期2%。
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