(RTTNews) – Tencent Music Entertainment Group (TME) announced earnings for its third quarter that Increased from the same period last year and beat the Street estimates.
The company’s earnings totaled RMB2.212 billion, or RMB1.38 per share. This compares with RMB1.709 billion, or RMB1.01 per share, last year.
Excluding items, Tencent Music Entertainment Group reported adjusted earnings of RMB2.477 billion or RMB1.54 per share for the period.
Analysts on average had expected the company to earn RMB1.52 per share. Analysts’ estimates typically exclude special items.
The company’s revenue for the period rose 20.6% to RMB8.463 billion from RMB7.015 billion last year.
Tencent Music Entertainment Group earnings at a glance (GAAP) :
-Earnings: RMB2.212 Bln. vs. RMB1.709 Bln. last year.
-EPS: RMB1.38 vs. RMB1.01 last year.
-Revenue: RMB8.463 Bln vs. RMB7.015 Bln last year.
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