Tencent Music Entertainment Group reports results for the quarter ended in January - Earnings Summary

Tencent Music Entertainment

13/08/2024 18:00

* Tencent Music Entertainment Group  1698.HK  reported
quarterly
adjusted earnings of 60 cents​​ per share for the quarter ended
in January, higher than the same quarter last year, when the
company reported EPS of 48 fen.  The mean expectation of
three analysts for the quarter was for earnings of 79 cents per
share. Wall Street expected results to range from 59 fen
to CNY1.17 per share.
    * Revenue fell 1.7% to CNY7.16 billion from a year ago;
analysts
expected CNY7.23 billion. 
    * Tencent Music Entertainment Group's reported EPS for the
quarter
was 54 fen​.
    * The company reported quarterly net income of CNY1.68
billion.
    * Tencent Music Entertainment Group shares had fallen
by 6.1% this
quarter and gained 50.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the online
services
peer group is also "buy"

Wall Street's median 12-month price target for Tencent Music
Entertainment Group is HK$63.00 
This summary was machine generated from LSEG data August 13 at
05:00 p.m. UTC. ​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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.79           0.55           Missed
 Mar. 31 2024                     0.55           
 Dec. 31 2023      0.74           0.50           Missed
 Sep. 30 2023      0.72           0.44           Missed