Tencent Music Entertainment Group reports results for the quarter ended September 30 - Earnings Summary

Tencent Music Entertainment

12/11/2024 15:23

* Tencent Music Entertainment Group  1698.HK  reported
quarterly
adjusted earnings of 58 fen​​ per share for the quarter ended
September 30, higher than the same quarter last year, when the
company reported EPS of 44 cents.  The mean expectation of
three analysts for the quarter was for earnings of CNY1.01 per
share. Wall Street expected results to range from 58 cents
to CNY1.31 per share.
    * Revenue rose 6.8% to $7.02 billion from a year ago;
analysts
expected $6.97 billion. 
    * Tencent Music Entertainment Group's reported EPS for the
quarter
was 50 fen​.
    * The company reported quarterly net income of CNY1.58
billion.
    * Tencent Music Entertainment Group shares had fallen
by 9.0% this
quarter and gained 32.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 9% 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 8 "strong buy" or "buy," 3
"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 52.65 
This summary was machine generated from LSEG data November 12 at
03:23 p.m. UTC. ​All figures in US dollars 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
 Sep. 30 2024      1.01           0.58           Missed
 Jun. 30 2024      0.79           0.60           Missed
 Mar. 31 2024      0.80           0.55           Missed
 Dec. 31 2023      0.74           0.50           Missed