Why Is Tencent Music Stock Trading Higher on Monday?
Why Is Tencent Music Stock Trading Higher on Monday?
Tencent Music Entertainment Group (NYSE:TME) reported a fiscal first-quarter 2024 revenue decline of 3.4% year-over-year to $937.0 million (6.77 billion Chinese yuan), beating the analyst consensus estimate of $917.6 million.
騰訊音樂娛樂集團（紐約證券交易所代碼：TME）報告稱，2024財年第一季度收入同比下降3.4％，至9.37億美元（67.7億元人民幣），超過了分析師共識估計的9.176億美元。
The decline reflected a fall in revenues from social entertainment services, partially mitigated by strong year-over-year growth in revenues from online music services.
下降反映了社交娛樂服務收入的下降，在線音樂服務收入的強勁同比增長在一定程度上緩解了這一下降。
China's leading online music and audio entertainment platform's adjusted EPADS of $0.15 (CNY1.09) beat the analyst consensus estimate of $0.14.
中國領先的在線音樂和音頻娛樂平台調整後的EPADS爲0.15美元（人民幣1.09元），超過了分析師共識估計的0.14美元。
Key Metrics: Monthly active users (MAUs) for online music declined by 2.4% year over year to 578 million, and mobile MAUs for social entertainment decreased by 28.7% year over year to 97 million.
關鍵指標：在線音樂的月活躍用戶（MAU）同比下降2.4％，至5.78億，社交娛樂的移動活躍用戶同比下降28.7％，至9700萬。
The monthly average revenue per user (ARPPU) for online music grew by 15.2% year over year to CNY10.6, Monthly ARPPU for social entertainment declined by 55.4% year over year to CNY73.4, and Online music paying users increased by 20.2% year over year to 113.5 million.
在線音樂的每位用戶月平均收入（ARPPU）同比增長15.2％，達到10.6元人民幣；社交娛樂的每月ARPPU同比下降55.4％，至人民幣73.4％；在線音樂付費用戶同比增長20.2％，至1.135億元。
Online music service revenues grew by 43% year over year to $693 million, while revenues from music subscriptions were $501 million, an increase of 39.2% year over year.
在線音樂服務收入同比增長43％，達到6.93億美元，而音樂訂閱收入爲5.01億美元，同比增長39.2％。
Revenues from social entertainment services and others decreased by 49.7% Y/Y to $244 million.
社交娛樂服務和其他服務的收入同比下降49.7％，至2.44億美元。
The gross margin increased by 780 bps to 40.9%, primarily due to the strong growth of revenues from music subscriptions and advertising services and the ramp-up production of original content. The operating profit increased by 41.9% Y/Y to $271 million.
毛利率增長了780個點子至40.9％，這主要是由於音樂訂閱和廣告服務收入的強勁增長以及原創內容製作的增加。營業利潤同比增長41.9％，達到2.71億美元。
Operating cash flow was $372 million for the quarter. The combined balance of the company's cash, cash equivalents, term deposits, and short-term investments amounted to $4.73 billion as of March 31, 2024.
本季度的運營現金流爲3.72億美元。截至2024年3月31日，公司的現金、現金等價物、定期存款和短期投資的總餘額爲47.3億美元。
Dividend: On May 11, 2024, the board adopted an annual cash dividend policy. For fiscal year 2023, the company's board declared a cash dividend of $0.1370 per ADS.
分紅：2024年5月11日，董事會通過了年度現金分紅政策。2023財年，公司董事會宣佈每份ADS的現金分紅爲0.1370美元。
Mr. Cussion Pang, Executive Chairman of TME, commented, "We kicked off 2024 with impressive results. Online music continued to grow robustly, registering record-high net adds of 6.8 million music subscribers with healthy ARPPU for the first quarter. Our focus on high-quality growth also yielded solid net profit margin expansion. By broadening content and introducing more tailored platform offerings that resonate deeply with users, we continue to strengthen our vibrancy and competitiveness in this dynamic industry."
騰訊金屬交易所執行董事長龐震生先生評論說：“我們以令人印象深刻的業績拉開了2024年的序幕。在線音樂繼續強勁增長，創下歷史新高，淨增加680萬音樂訂閱者，第一季度ARPPU良好。我們對高質量增長的關注也帶來了穩健的淨利潤率增長。通過拓寬內容和推出更多能引起用戶深刻共鳴的量身定製的平台產品，我們將繼續增強我們在這個充滿活力的行業中的活力和競爭力。”
The stock gained over 68% in the last 12 months. Investors can gain exposure to the stock via KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) and Invesco Golden Dragon China ETF (NASDAQ:PGJ).
該股在過去12個月中上漲了68％以上。投資者可以通過KraneShares Trust KraneShares CSI中國互聯網ETF（紐約證券交易所代碼：KWEB）和景順金龍中國ETF（納斯達克股票代碼：PGJ）獲得股票敞口。
Price Action: TME shares are trading higher by 1.65% at $13.56 premarket at the last check Monday.
價格走勢：在週一的最後一次支票中，騰訊金屬交易所股價上漲1.65％，至盤前13.56美元。