• Tencent Music Entertainment Group TME.N reported quarterly adjusted earnings of CNY1.66​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of CNY1.19. The mean expectation of thirteen analysts for the quarter was for earnings of CNY1.46 per share. Wall Street expected results to range from CNY1.42 to CNY1.52 per share.

• Revenue rose 17.9% to CNY8.44 billion from a year ago; analysts expected CNY7.96 billion.

• Tencent Music Entertainment Group's reported EPS for the quarter was CNY1.55​.

• The company reported quarterly net income of CNY2.41 billion.

• Tencent Music Entertainment Group shares had risen by 16.5% this quarter and gained 100.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.6% 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 25 "strong buy" or "buy," 4 "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 $19.00, about 19.5% below its last closing price of $22.70

This summary was machine generated from LSEG data August 12 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)