In its market commentary dated Nov 13, OCBC Investment Research analysts say they prefer Tencent Holdings over its peer Alibaba, after the former posted a “firm set of 3Q results” on Nov 12.

For the 3QFY2020, Tencent posted a 32% growth y-o-y in earnings of RMB32.3 billion ($6.6 billion). Operating profit was up 34% y-o-y to RMB38.1 billion, while operating profit margin rose 1 percentage point to 30% from 29% the year before.

Total revenue for the quarter rose 29% y-o-y to RMB125.4 billion, which came above consensus’ estimates by 1%.

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