[Correction: A previous version of this story incorrectly stated Tencent Music Entertainment’s year-over-year operating profit and net profit figures for its fourth quarter. It has since been revised.]
Tencent Music Entertainment (NYSE:TME) earnings for the company’s fiscal fourth quarter of 2019 have TME stock up after-hours Monday. This comes after reporting adjusted earnings per share (EPS) of 0.80 yuan, while Wall Street’s estimate was for 0.77 yuan. The Chinese company’s revenue of 7.29 billion yuan is also better than analysts’ estimates of $6.79 billion yuan.
Here’s what else is worth pointing out from the most recent Tencent Music Entertainment earnings report.
- Adjusted EPS is up 40.35% from 0.57 yuan during the same period of the year prior.
- Revenue for the quarter is 35% higher than the 5.4 billion yuan reported in the fiscal fourth quarter of 2018.
- Operating profit of 1.2 billion yuan is a switch year-over-year from operating loss of 970 million yuan in the same period of 2018.
- The Tencent Music Entertainment earnings report also includes a net profit of 1.04 billion yuan.
- That’s an increase from the company’s net loss of 876 million yuan reported in for the same time last year.
Cussion Pang, Chief Executive Officer of Tencent Music Entertainment, said this about the TME stock earnings:
“2019 marked a year of healthy growth across our businesses. We made significant contribution to upholding music copyright protection, supporting original content creation and designing innovative monetization models to unlock the intrinsic value of music.”
Company leaders will be going over the Tencent Music Entertainment earnings report in a conference call. The call starts at 8:00 p.m. Eastern Time today. Those wanting to can call in or listen via a live webcast.
TME stock was unmoving after-hours Monday after ending the day down 3%.
As of this writing, William White did not hold a position in any of the aforementioned securities.