Tencent Music Entertainment Group ADR Class A Stock News

Tencent Music Entertainment Group (NYSE:TME ) Q3 2024 Earnings Conference Call November 12, 2024 6:00 AM ET Company Participants Millicent Tu - Head of Investor Relations Cussion Pang - Executive Chairman Ross Liang - Chief Executive Officer Shirley Hu - Chief Financial Officer Conference Call Participants Yang Liu - Morgan Stanley Lincoln Kong - Goldman Sachs Group, Inc. Alicia Yap - Citigroup...

China's Spotify analogue Tencent Music Entertainment Group posted 6.8% increase in total revenues for the third quarter of 2024, hitting 7.02 billion Chinese yuan (around US$1 billion). TME attributed the increase to higher music subscriptions, although this was partially offset by lower revenues from “social entertainment services and others”.

Tencent Music Entertainment missed quarterly revenue estimates on Tuesday, as Beijing's crackdown on online gambling continues to impact its social entertainment segment.

Expanding TME's Global Footprint to Elevate International Music Experiences  SHENZHEN, China , Oct. 17, 2024 /PRNewswire/ -- Tencent Music Entertainment Group (TME) today announced a strategic partnership with Galaxy Corporation, the agency representing the influential global musician G-Dragon, for his upcoming regional tour. The collaboration marks a significant step forward in TME's ambitions...

I maintain a Buy rating for Tencent Music Entertainment, taking into consideration the multiple positives for the stock. TME's online music services revenue is resilient despite China's economic slowdown. The introduction of the new higher-priced Super VIP plan is expected to enhance ARPPU and drive future revenue growth for TME.

China's economy has struggled in recent months amid a depressed level of consumer confidence and a devastating housing bust coupled with weak credit demand. Late in September—just after the U.S. Federal Reserve announced its first federal funds rate cut in several years—the People's Bank of China unveiled a three-part monetary stimulus program to reduce reserve requirement ratios (the amount of...

No rally, not even one pushed hard by the Chinese government, can last forever.

Lingering optimism about the future of the country's enterprises continued to drive demand for them higher; rising tensions elsewhere in the world also played a role.