Here comes Tencent Music, China's biggest streaming-music service

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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