Goldman Sachs forecasts strong Q3 growth for five China internet companies
Goldman Sachs released a research note ahead of third‑quarter earnings, projecting double‑digit revenue and profit growth for Tencent, Alibaba, Meituan, JD.com and PDD. The bank expects Tencent’s gaming and advertising revenues to rise 8% and 19% respectively and keeps a HK$650 price target. Alibaba’s cloud revenue is forecast to jump 53% with adjusted EBITA up 238% to 31 billion yuan, while Meituan’s adjusted operating profit should increase 104% to 700 million yuan and JD.com’s net profit 39% to 8 billion yuan.
Why it matters
The forecasts set investor expectations for Q3 earnings and could influence stock valuations, especially as Goldman maintains a HK$650 price target for Tencent. The projected profit surges suggest stronger cash flow and potential for shareholder returns at the listed firms.
Key facts
- 1Tencent’s gaming revenue is expected to grow 8% in Q3. investing.com
- 2Tencent’s advertising revenue is expected to grow 19% in Q3. investing.com
- 3Goldman Sachs keeps a 12‑month price target of HK$650 for Tencent. investing.com
- 4Alibaba’s cloud revenue is forecast to increase 53% in Q3. investing.com
- 5Alibaba’s adjusted EBITA is projected to rise 238% year‑on‑year to 31 billion yuan. investing.com
- 6Meituan’s adjusted operating profit is expected to rise 104% year‑on‑year to 700 million yuan. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.