5 Reasons You Should Still Buy Tencent's Stock
Tencent's (OTC: TCEHY) stock recently rallied after the Chinese tech giant posted its third-quarter earnings. Its revenue rose 29% year-over-year to 125.45 billion yuan ($18.4 billion), beating estimates by 1.65 billion yuan and matching its growth rate in the second quarter.
Its net profit surged 89% to 38.54 billion yuan ($5.7 billion), topping expectations by 8.2 billion yuan. On an adjusted basis, which excludes its investment-related gains and other one-time items, Tencent's net profit rose 32% to 32.3 billion yuan ($4.7 billion).
Those are impressive growth rates for a 22-year-old company, but some investors might be reluctant to chase a stock that has rallied 85% over the past 12 months. However, I believe Tencent's stock still has room to run, for five simple reasons.
Source Fool.com
