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 loss of -970 million yuan is a switch year-over-year from operating income of 1.2 billion yuan.
- The Tencent Music Entertainment earnings report also includes a net loss of -875 million yuan.
- That’s a drop from the company’s net income of 1.04 billion 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.