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<Foresight>Brokers Estimate TENCENT's 4Q25 Adj. NP to Have Soared 16%+; Focus on AI Strategy & Capital Expenditure Plans
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TENCENT (00700.HK) is set to announce its 4Q25 results next Thursday (18th).

According to the forecasts from 11 brokers as summarized by our reporters, TENCENT's 4Q25 non-IFRS net profit will have grown by 10.6-18.6% YoY to RMB61.16-65.606 billion, compared to RMB55.312 billion in 4Q24. The median of RMB64.3 billion also marks a YoY increase of 16.2%.

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The market will be eyeing TENCENT's latest AI strategy, AI budget and capital expenditure, whether AI mini-programs will connect e-commerce, travel, and local life scenarios, as well as management's comments on the macro-outlook, regulatory environment, game product line planning, advertising market sentiment and load, and the latest performance of video accounts and WeChat AI search.

Brokers | 4Q25 Non-IFRS NP Forecast | YoY Changes
JPMorgan | RMB65.606 billion | +18.6%
Haitong International | RMB65.301 billion | +18.1%
BOCI | RMB65.044 billion | +17.6%
Citi | RMB64.752 billion | +17.1%
CLSA | RMB64.504 billion | +16.6%
Huatai Securities | RMB64.3 billion | +16.2%
Nomura | RMB63.878 billion | +15.5%
Daiwa | RMB62.636 billion | +13.2%
Goldman Sachs | RMB62.551 billion | +13.1%
CCBI | RMB62.022 billion | +12.1%
Morgan Stanley | RMB61.16 billion | +10.6%

Calculated based on TENCENT's 4Q24 non-IFRS net profit of RMB55.312 billion.

Related NewsCiti Forecasts for TENCENT's 4Q25 Results (Table)

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