• Tencent Music Entertainment Group 1698.HK reported quarterly adjusted earnings of 80 fen​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of 73 fen. The mean expectation of four analysts for the quarter was for earnings of 78 fen per share. Wall Street expected results to range from 76 fen to 80 fen per share.

• Revenue rose 15.9% to CNY8.64 billion from a year ago; analysts expected CNY8.39 billion.

• Tencent Music Entertainment Group's reported EPS for the quarter was 71 fen​.

• The company reported quarterly net income of CNY2.2 billion.

• Tencent Music Entertainment Group shares had fallen by 17.6% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.5% 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 13 "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 HK$97.50, about 41.3% above its last closing price of HK$57.20

This summary was machine generated from LSEG data March 17 at 02:30 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)