• Tencent Music Entertainment Group TME.N reported quarterly adjusted earnings of CNY1.37​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of CNY1.09. The mean expectation of twelve analysts for the quarter was for earnings of CNY1.33 per share. Wall Street expected results to range from CNY1.28 to CNY1.42 per share.

• Revenue rose 8.7% to CNY7.36 billion from a year ago; analysts expected CNY7.27 billion.

• Tencent Music Entertainment Group's reported EPS for the quarter was CNY2.77​.

• The company reported quarterly net income of CNY4.29 billion.

• Tencent Music Entertainment Group shares had fallen by 0.6% this quarter and gained 26.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.8% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 27 "strong buy" or "buy," 2 "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 $16.75

This summary was machine generated from LSEG data May 13 at 01:30 p.m. UTC. ​All figures in Chinese yuan renminbi 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)