《大行報告》花旗:騰訊音樂(TME.US)經調整淨利潤高市場預期25% 毛利率改善令人鼓舞
騰訊音樂-SW(01698.HK)今早股價乾升,盤中曾高見23.3元一度彈高33.3%,最新報22.45元升28.4%,成交額375萬元。而騰訊音樂(TME.US)隔晚股價抽上30.6%收5.81美元。
花旗發表報告表示,騰訊音樂今年第三季業績穩固,雖然收入按年跌5.6%,但優於該行及市場原預期各4.3%及4%,主要是線上音樂服務收入按年升18.8%至34.3億美元,高於該行原預期8%。該行指,騰訊音樂第三季經調整淨利潤按年升33%至14.11億人民幣,高於該行及市場同業原預期各18%及25%,季內毛利率達32.6%,高於該行原預期31.1%。
該行認為騰訊音樂季績明顯優於該行及市場預期,收入、利潤率和利潤都略高於該行和市場的預期,指得益於良好的成本控制,毛利率、營運毛利率和淨利潤率均出現按年和按季改善,表現令人鼓舞。該行指騰訊音樂旗下音樂付費用戶淨增260萬,與前一季度的250萬相比穩定,亦與管理層指引一致。花旗維持對騰訊音樂(TME.US)「中性」評級及目標價4.6美元。
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