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Tencent Music's Average Revenue Per User Focus Signals Potential Profit Growth, Says Analyst
TCEHYTENCENT(TCEHY) Benzinga·2024-08-14 16:56

BofA Securities analyst Lei Zhang reiterated a Buy rating on Tencent Music Entertainment Group – ADR TME with a price target of $15, down from $18.Tencent Music reported a fiscal second-quarter 2024 revenue of $985.00 million (7.16 billion Chinese yuan), missing the analyst estimate of $996.68 million (7.12 billion Chinese yuan). The EPS of 16 cents (1.19 Chinese yuan) aligned with the consensus estimate. Tencent Music delivered a broadly inline second-quarter result, Zhang noted. At the same time, the comp ...