Tencent Music Entertainment Group expected to post earnings of 80 fen a share - Earnings Preview

Tencent Music Entertainment

10/05/2024 13:35

* Tencent Music Entertainment Group  1698.HK   is expected
to show
a fall in quarterly revenue when it reports  results on May 13
for the period ending March 31 2024
    * The Shenzhen Guangdong-based  company is expected to
report a
6.0% decrease in revenue to CNY6.585 billion from CNY7 billion a
year ago, according to the mean estimate from 4 analysts, based
on LSEG data.
    * ​LSEG's mean analyst estimate for Tencent Music
Entertainment
Group is for earnings of 80 fen per share. 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Tencent
Music
Entertainment Group is HK$48.90​, below​ its last closing price
of HK$52.70. ​​​

This summary was machine generated May 10 at 12:35 GMT.  All
figures in Chinese yuan renminbi unless otherwise stated. (For
questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)