Tencent Music Entertainment Group (NYSE:TME) is set to announce third quarter earning results on Tuesday 10th November 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, TME to report 3Q20 income of $ 0.11 per share.
For the full year, analysts anticipate top line of $ 4391.46 million, while looking forward to income of $ 0.42 per share bottom line.
Previous Quarter Performance
Tencent Music Entertainment Group unveiled income for the second quarter of $ 0.10 per share, from the revenue of $ 981.00 million. The quarterly earnings increased 11.11 percent while revenues increased 16.40 percent compared with the same quarter last year.
Street analysts expected Tencent Music Entertainment Group to report income of $ 0.09 per share on revenue of $ 983.07 million for the second quarter. The bottom line results beat street analysts by $ 0.01 or 11.11 percent, at the same time, top line results fell short of analysts by $ 2.07 million or 0.21 percent.
Stock Performance
Shares of Tencent Music Entertainment Group traded low $ -0.12 or -0.79 percent on Monday, reaching $ 15.15 with volume of 16.44 million shares. Tencent Music Entertainment Group has traded high as $ 15.74 and has cracked $ 14.98 on the downward trend
According to the previous trading day, closing price of $ 15.15, representing a 65.62 % increase from the 52 week low of $ 9.22 and a 15.03 % decrease over the 52 week high of $ 17.97.
The company has a market capital of $ 25.41 billion and is part of the Technology sector and Internet Content & Information industry.
Recent Analyst recommendations
- On 24th September 2020, initiated by Needham & Company LLC at Buy rating, with $ 17.00 target price.
Conference Call
Tencent Music Entertainment Group will be hosting a conference call at 8:00 PM eastern time on 10th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.tencentmusic.com
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the Peoples Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung. The company also operates Kugou Live and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance.
