[ET Net News Agency, 24 April 2018] Tencent Holdings (00700) yesterday announced 19 new
mobile titles including 14 IP-based and 2 AR games. Jefferies Research believes its strong
IP war chest (both internal and external), social attribute and eSports footprint will
enable Tencent to widen its mobile game lead.
Following the announcement of Fortnite exclusive licensing right, Tencent now owns the
China publishing rights of the top 3 global PC titles (namely Fortnite, LoL and PUBG)
ranked by Twitch viewership, the resarch house said.
It maintained its "buy" rating on Tencent, with a price target of HK$530.
Jefferies estimated Tencent's 1Q 2018 total revenue of RMB73bn, +48% YoY, and non-GAAP
net profit of RMB19.5bn, +37% YoY. (KL)