The market really liked what heard was coming from China Tencent Music Entertainment Group (NYSE: TME) This week. The earning of earnings better than expected, the company was published on Tuesday sufficient hit that the stocks were increasing almost 12% higher in this period, according to the data that had collected S & P Global Market Intelligence.
This was the last edition of Tencent Music 2024, and covered the fourth and whole part of the year.
The total revenue of the company was 7.46 billion Juan ($ 1.03 billion) for quarterly, which is more than 8% higher than the comparable period 2023. Most of this came from music subscriptions; They rose a robust 18% to 4.03 billion Juan ($ 557 million), in a small part they helped in small parts by 13% increase in the number of users who pay.
At the bottom, profit Tencent Music in accordance with IFRS standards It has grown to almost $ 2.08 billion ($ 287 million) compared to the result of 1.41 billion Juan ($ 195 million). The last number of profitability ran to $ 1.26 Juan ($ 0.17) according to each of the US depository shares of the company (ADSE).
In addition to publishing healthy growth numbers, Tencent Music is also at the top of an assessment of analyst for a quarter. Collectively, the prognostices who accompanied the company envisaged 7.30 billion Juan (billion dollars) on the upper line and $ 1,22 Juan ($ 0.17) per MSFI advertisement ads.
In a statement for earnings, Tencent quoted his executive President Cussion Pang: “Our pioneering initiatives in the chain of music value have been transformed by an industrial landscape and enriched our ecosystem, increasing the rate of subscribers and life value.”
This is a large extent to C-Suite, and you speak fancy for what is basically a useful service that provides what his audience wants in broadcasting modern music. Tencent Music does what does quite good, and up and the lower part indicate it. Because of this, it is a viewing section, although investors should keep in mind that the Earth’s economy is not as hot as it used to be.
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