* Tencent Music Entertainment Group 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
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