Tencent Holdings TCEHY is set to report third-quarter 2020 results on Nov 12.The Zacks Consensus Estimate for third-quarter earnings has declined 2.1% to 46 cents over the past 30 days. The figure suggests growth of 27.8% from the figure reported in the year-ago quarter.Further, the consensus mark for revenues currently stands at $17.8 billion, indicating growth of 28.4% from the figure reported in the year-ago quarter.Notably, the company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in the other two, the average surprise being 2.81%.Let’s see how things have shaped up for this announcement.Tencent Holding Ltd. Price, Consensus and EPS Surprise Tencent Holding Ltd. price-consensus-eps-surprise-chart | Tencent Holding Ltd. QuoteKey Factors to WatchTencent’s third-quarter 2020 results are expected to reflect strength in its rich gaming portfolio as well as strong distribution capability, especially as users followed social distancing guidelines due to the coronavirus outbreak.Additionally, strong video game spending bodes well for Tencent. Per Venturebeat, which cited NPD data, U.S. video game sales in July, August and September increased 32%, 37% and 10%, respectively.The company is expected to have benefited from its dominance as one of the biggest game distributors in China, which is the world’s largest video game market, in terms of users and revenues.Moreover, the acquisition of Malaysian streaming platform, iflix, which has an active user base of 25 million across 13 countries including Malaysia, Indonesia, Bangladesh and Thailand and a vast library of curated and original content, is expected to have boosted WeTV’s userbase in the to-be-reported quarter.Tencent’s international user base is expected to have expanded in the quarter under review, courtesy of PUBG Mobile, Honor of Kings and Peacekeeper Elite.Additionally, Supercell’s Brawl Stars (one of the best performing original IP mobile titles in 2019) and the Call of Duty Mobile game (crowned as the Best Mobile Game of the Year in 2019 by TGA, The Game Awards) as well as League of Legends are expected to have contributed to the company’s international revenues in the to-be-reported quarter.The company launched Cloud Office Portfolio in the first quarter, including a variety of collaborative office products such as Tencent Meeting, WeChat Work, QQ, Tencent Doc, TAPD, Lexiangla, and CODING, which is expected to have contributed to active user growth thereby driving top-line growth in the to-be-reported quarter as users continue to work from home.Also, growth in digital content revenues, owing to video streaming subscriptions and live broadcast services, is expected to have aided social network revenues, especially as millions of people practiced social distancing due to the coronavirus pandemic.Further, momentum in cloud services is expected to have continued, owing to fast penetration into key sectors, including finance. This is expected to have driven FinTech and Business Services revenues in the to-be-reported quarter.However, media advertising revenues from platforms, including Tencent Video and Tencent News, are expected to have taken a hit due to weak demand for brand ad, delayed content production or release and fewer telecasts of sports events in the quarter under review.What Our Model SaysAccording to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Tencent Holdings has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks to ConsiderHere are a couple of companies, which, per our model, have the right combination of elements to post an earnings beat in their upcoming release.NVIDIA NVDA has an Earnings ESP of +1.75% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Deere & Company DE has an Earnings ESP of +9.76% and a Zacks Rank #3.Nice Ltd. NICE has an Earnings ESP of +2.98% and a Zacks Rank #3.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report Deere Company (DE): Free Stock Analysis Report Tencent Holding Ltd. (TCEHY): Free Stock Analysis Report Nice Ltd. (NICE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research