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Tencent Music (TME) Tops Q2 EPS by 1c

August 10, 2020 4:12 PM EDT

Tencent Music (NYSE: TME) reported Q2 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $981 million versus the consensus estimate of $983.07 million.

Financial and Operational Highlights

In the three months ended June 30, 2020:

Online music paying users grew 51.9% year-over-year to 47.1 million, with ARPPU increasing by 8.1% year-over-year.Total revenues were RMB6.93 billion (US$981 million), an increase of 17.5% year-over-year, with online music subscription revenues growing by 64.7% year-over-year to RMB1.31 billion (US$186 million).Net profit attributable to... More