- Tencent Music Entertainment is set to report fourth-quarter financial results after Tuesday’s closing bell.
- It will be Tencent Music’s first earnings release since going public in the US in December.
- Watch Tencent Music Entertainment trade live.
Tencent Music Entertainment, the biggest streaming-music service in China, is set to report fourth-quarter earnings after Tuesday’s closing bell. Here’s what analysts surveyed by Bloomberg are expecting:
- Adjusted earnings per share: $US0.55
- Revenue: $US5.3 billion
- 2019 adjusted-earnings-per-share guidance:$US2.92
- 2019 revenue guidance: $US26.4 billion
This will be the first time that Tencent Music has released earnings since going public in the US in December. The company postponed its initial-public-offering for two months over fears that the brutal sell-off that wreaked havoc on markets in October and November would affect its pricing. Tencent Music’s offering raised $US1.1 billion, making it the fourth-largest Chinese IPO last year by deal value.
Tencent Music operates several popular music brands in China – including QQ Music, Kugou, Kuwo and WeSing – and had more than 800 million unique monthly active users in the second quarter of 2018, according to its filing.
Tencent Music was up 48% this year through Tuesday.
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