【招银国际证券】Expect higher contribution from AI revenue in 3Q; Upgrade to Buy.pdf

2H24 preview: both revenue, NP stable HoH

–Games revenue growth accelerated with solid margin expansion

Fire Up Your B2B Revenue Generation Engine

Net loss in 4Q24 further narrowed; target to achieve 97% revenue growth in 2025E

3Q results review: Solid revenue growth with lower margin

–Game business weighed on revenue growth despite resilient ad and VAS business

2022 Hotel Room Revenue by State

2022 State and Local Tax Revenue by State

Saving Lives While Raising Revenue

Inline 3Q23 results; strong music subscription revenue growth