In This Article:
Tencent Music Entertainment Group (NYSE:TME) Third Quarter 2024 Results
Key Financial Results
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Revenue: CN¥7.02b (up 6.8% from 3Q 2023).
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Net income: CN¥1.58b (up 36% from 3Q 2023).
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Profit margin: 23% (up from 18% in 3Q 2023).
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EPS: CN¥1.02 (up from CN¥0.74 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Tencent Music Entertainment Group EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.4%.
Looking ahead, revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Entertainment industry in the US.
Performance of the American Entertainment industry.
The company's shares are down 9.4% from a week ago.
Valuation
Our analysis of Tencent Music Entertainment Group based on 6 different valuation metrics shows it might be undervalued. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.