Tencent Music Entertainment is scheduled to announce its fourth quarter earnings before the bell on Tuesday, and investors will be watching for whether shares will continue their positive year-over-year trend.
Analysts expect the Chinese firm to report revenue of US$1.07 billion and earnings per share of $0.13 for the three months ended December 31. That compares to US$1.19 billion and $0.08 per share in the same period of 2021.
Shares of Tencent Music added more than 0.5% to $7.89 in New York on Monday afternoon. Over the past 52 weeks, shares are up more than 55%.
In particular, investors will also be watching for Tencent Music’s 2023 guidance. The Street’s median 12-month price target for the stock is $9.10, according to reports.
Tencent Music was spun off in 2019 from Tencent Holdings (HKG:0700, OTC:TCEHY).
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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