Cloud Music (HKG:9899) H1 2024 results
Key financial results
- Sales: CN¥4.07 billion (up 4.1% compared to H1 2023).
- Net profit: CN¥809.8 million (up 176% from H1 2023).
- Profit margin: 20% (compared to 7.5% in H1 2023). The increase in margin was mainly due to lower expenses.
- Earnings per share: CN¥3.88 (compared to CN¥1.39 in H1 2023).
All figures shown in the graph above refer to the last 12 months (TTM)
Cloud Music earnings per share exceed expectations
Sales were in line with analysts’ estimates. Earnings per share (EPS) exceeded analysts’ estimates by 30%.
An average sales growth of 7.4% per annum is expected for the next three years. In contrast, growth of 16% is forecast for the entertainment industry in Hong Kong.
Performance of the Entertainment industry in Hong Kong.
The company’s shares fell 1.5 percent compared to the previous week.
Evaluation
Our analysis of Cloud Music based on six different valuation metrics shows that the company may be undervalued. Click here to see our full review and find out what analysts think about the company’s future.
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This Simply Wall St article is of a general nature. We comment solely on the basis of historical data and analyst forecasts, using an unbiased methodology. Our articles do not constitute financial advice. It is not a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our goal is to provide you with long-term analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company announcements or qualitative materials. Simply Wall St does not hold any of the stocks mentioned.
