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Tencent (0700.HK) 4Q15 Results: A Blowout Quarter to Close a Strong Year

Executive Summary

  • Tencent reported 4Q15 revenues of ¥30.4 billion, up 45.1% year over year and ahead of the consensus estimate of ¥27.8 billion. Non-GAAP EPS was ¥0.95, beating the consensus estimate of ¥0.89.
  • Growth was recorded across the board, driven primarily by the largest segment, Value-Added Services (VAS), with revenue growth of 34.6%. The second-largest segment, Online Advertising, posted 118.2% revenue growth.
  • In 2016, the company plans to invest in its core platforms, new smartphone game genres, expanding its advertising business, growing its digital-content business and in its advertising platform.



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