Tencent's overall revenue could be boosted by the strong performance of two key smartphone game titles — "Honor of Kings" and "Peacekeeper Elite," according to analysts.
But the crown jewel in China's second-most valuable tech firm is facing rising competition from rivals. And Tencent could also be facing headwinds in advertising as well as its fast-growing fintech and cloud division. "We expect Tencent to deliver a solid set of 1Q20 results with strong performance of smartphone games," Jefferies said in a note dated April 22.
ByteDance's efforts in gaming are still very new and unlikely to be a threat to Tencent in the near term. But the TikTok owner appears to be serious about its prospects. In January, Bloomberg reported the company is building up a gaming division made up of over 1,000 employees.Tencent could face slowing online advertising growth given an overall slowdown in the China market.
"Media advertising is expected to remain under pressure due to the negative impact of COVID-19 and macro headwinds, even when facing loosened content regulation on the online video industry," Guotai Junan Securities said in its note.
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