Tencent Music Entertainment Group (TME - Free Report) reported fourth-quarter 2019 adjusted earnings of 12 cents per American Depositary Shares (ADS) that beat the Zacks Consensus Estimate by 20%.
In domestic currency, the company reported adjusted earnings of RMB0.62 per ADS.
Revenues jumped 35.1% year over year to RMB7.29 billion ($1.05 billion).
Top-Line Details
Revenues from online music services increased 40.7% year over year to RMB2.14 billion ($307 million), driven by higher revenues from user subscriptions supplemented by growth in revenues from advertising services and sales of digital music albums.
Revenues from paid music through sales of subscription packages were RMB1.11 billion ($160 million), up 60.1% year over year due to improved paid user retention rate and increased number of paying users.
Revenues from social entertainment services and others soared 32.9% to RMB5.15 billion ($740 million), primarily driven by higher revenues from both online karaoke and live streaming services.
Tencent Music Entertainment Group Sponsored ADR Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Tencent Music Entertainment Group (TME - Free Report) reported fourth-quarter 2019 adjusted earnings of 12 cents per American Depositary Shares (ADS) that beat the Zacks Consensus Estimate by 20%.
In domestic currency, the company reported adjusted earnings of RMB0.62 per ADS.
Revenues jumped 35.1% year over year to RMB7.29 billion ($1.05 billion).
Top-Line Details
Revenues from online music services increased 40.7% year over year to RMB2.14 billion ($307 million), driven by higher revenues from user subscriptions supplemented by growth in revenues from advertising services and sales of digital music albums.
Revenues from paid music through sales of subscription packages were RMB1.11 billion ($160 million), up 60.1% year over year due to improved paid user retention rate and increased number of paying users.
Revenues from social entertainment services and others soared 32.9% to RMB5.15 billion ($740 million), primarily driven by higher revenues from both online karaoke and live streaming services.
Tencent Music Entertainment Group Sponsored ADR Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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