Tencent Music Entertainment Group ADR Class A Stock News

On Tuesday, the Chinese government cut interest rates, lowered bank reserve requirements, and lowered down payments on homes. Shares of consumer-focused companies in China rallied on news of the stimulus measures.

Singapore Kicks Off the First Stop of TME's Music Journey to the World SHENZHEN, China , Sept. 12, 2024 /PRNewswire/ -- On September 11, 2024 , Tencent Music Entertainment Group (TME) announced the launch of its Global Music Outreach Initiative, which will bring together talented Chinese music artists and their works to be showcased on prominent stages worldwide.

Tencent Music Entertainment Group (NYSE:TME ) Q2 2024 Results Conference Call August 13, 2024 7:00 AM ET Company Participants Millicent Tu - Head of IR Cussion Pang - Executive Chairman Ross Liang - CEO Shirley Hu - CFO Conference Call Participants Alicia Yap - Citigroup Lincoln Kong - Goldman Sachs Alex Poon - Morgan Stanley Lei Zhang - Bank of America Merrill Lynch Wei Xiong - UBS Thomas Chon...

Tencent Music Entertainment Group NYSE: TME is the largest music streaming company in China. The company's shares have been a bright spot for investors in the country over the past 52 weeks, providing a total return of 84%.

Tencent Music Entertainment (NYSE: TME ) stock is falling on Tuesday after the online music entertainment platform company reported earnings for the second quarter of 2024. The bad news for investors in TME stock starts with its adjusted earnings per share of 65 cents.

American depositary receipts (ADRs) of Tencent Music Entertainment Group (TME) sank Tuesday after the Chinese music streaming service posted worse-than-expected social entertainment services revenue as it dealt with government restrictions on the industry.

Tencent Music Entertainment Group's New York listed shares slumped in Tuesday's pre-market session as the Chinese streaming giant said a sharp drop in the number of people using its karaoke platforms had driven a slump in its second quarter revenue.

Tencent Music Entertainment topped estimates for quarterly revenue on Tuesday as its paid subscriber base grew across its music streaming platforms, sending its U.S. listed shares up 2.4% in premarket trading.