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MarketScreener Homepage  >  Equities  >  Nyse  >  Tencent Music Entertainment Group    TME

TENCENT MUSIC ENTERTAINMENT GROUP

(TME)
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China's Tencent Music revenue misses estimates, share fall 4%

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08/12/2019 | 05:07pm EDT
Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange (NYSE) in New York

(Reuters) - China's Tencent Music Entertainment Group on Monday missed quarterly revenue estimates as it reported the slowest increase in a widely-watched metric for growth since its debut, sending the shares of media streaming company down 4%.

Monthly average revenue per user from its social entertainment services rose 16.5% to to 130.2 yuan ($18.45), the slowest growth since it went public in December last year.

Although Tencent's music streaming services have more users, its biggest revenue drivers are its social entertainment services - Karaoke platform 'WeSing' and 'Kugou Live' and 'Kuwo Live' - where users can live stream concerts and shows.

Overall revenue rose to 5.90 billion yuan ($835.95 million) from 4.50 billion yuan a year earlier, but missed estimates of 5.95 billion yuan, according to IBES data from Refinitiv.

The company, controlled by Chinese tech giant Tencent Holdings Ltd, reported net income of 928 million yuan for the quarter ended June 30 compared with 903 million yuan a year earlier.

Excluding items, it earned 0.67 yuan per American depositary share, above the average analyst estimate of 0.61 yuan.

Shares of the company, which have risen 9.2% so far this year, fell to $13.80 in extended trading.

(Reporting by Ayanti Bera in Bengaluru and Pei Li in Beijing; Editing by Arun Koyyur)

Stocks mentioned in the article
ChangeLast1st jan.
TENCENT HOLDINGS LIMITED 1.88% 324.8 End-of-day quote.3.18%
TENCENT MUSIC ENTERTAINMENT GROUP -1.63% 13.195 Delayed Quote.1.97%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.28% 7.0634 Delayed Quote.3.49%
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Financials (CNY)
Sales 2019 25 349 M
EBIT 2019 4 251 M
Net income 2019 3 668 M
Finance 2019 21 597 M
Yield 2019 -
P/E ratio 2019 43,6x
P/E ratio 2020 31,3x
EV / Sales2019 5,31x
EV / Sales2020 3,80x
Capitalization 156 B
Chart TENCENT MUSIC ENTERTAINMENT GROUP
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Technical analysis trends TENCENT MUSIC ENTERTAINMEN
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 122,04  CNY
Last Close Price 95,53  CNY
Spread / Highest target 40,4%
Spread / Average Target 27,8%
Spread / Lowest Target 8,37%
EPS Revisions
Managers
NameTitle
Kar Shun Pang Chief Executive Officer & Director
Zhen Yu Xie President, Director & Chief Technology Officer
Tao Sang Tong Chairman
Min Hu Chief Financial Officer
Tak-Wai Wong Independent Director
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