Tencent Music (TME) Tops Q4 EPS by 1c

Tencent Music (NYSE: TME) reported Q4 EPS of $0.08, $0.01 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.23 billion.

• Total revenues were RMB7.61 billion (US$1.19 billion), representing a decrease of 8.7% year-over-year.
• Online music service revenues grew by 4.3% year-over-year. Revenues from music subscriptions were RMB1.95 billion (US$306 million), representing 23.5% year-over-year growth.
• Online music paying users reached 76.2 million, increasing by 36.1% year-over-year. On a sequential basis, the number of online music paying users grew by 5.0 million. Paying ratio was 12.4%, up from 11.2% in the third quarter of this year and 9.0% in the fourth quarter of last year.
• Net profit of the Company was RMB577 million (US$91 million) and net profit attributable to equity holders of the Company was RMB536 million (US$84 million).
• Non-IFRS net profit of the Company[1] was RMB873 million (US$137 million) and Non-IFRS net profit attributable to equity holders of the Company[1] was RMB832 million (US$131 million).

For earnings history and earnings-related data on Tencent Music (TME) click here.

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