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Tencent Music Newsroom
Tencent Music To Go Ex-Dividend On May 31st, 2024 With 0.137 USD Dividend Per Share
May 18th - $Tencent Music(TME.US)$ is trading ex-dividend on May 31st, 2024. Shareholders of record on May 31st, 2024 will receive 0.137 USD dividend per share on June 27th, 2024. The ex-dividend
Express News | NYSE Order Imbalance 66035.0 Shares on Sell Side
Top 5 Tech And Telecom Stocks That May Fall Off A Cliff In Q2
As of May 17, 2024, five stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.The RSI is a momentum
[Broker Focus] Orient Securities maintains Tencent Music's (01698) “buy” rating, indicating that its share of member revenue will increase, and profit margins are expected to be optimized
Jinwu Financial News | According to Orient Securities Research, Tencent Music (01698)'s 24Q1 revenue was 6.77 billion yuan (RMB, same below) (yoy -3.4%, qoq -1.8%). In 24Q2, the bank expects revenue of 7.38 billion yuan (yoy +1.3%, qoq +9.1%). 24Q1's gross profit margin was 40.9% (yoy+7.9pp, qoq+2.6pp), mainly due to strong growth in revenue from music subscriptions and advertising services, as well as a gradual increase in original content. According to the bank, the company's 24Q1 online music service was 5.01 billion (yoy+43.
What does Tencent Music, which continues to lose users, rely on to resume growth?
On May 14, Tencent Music (1698.HK) released its performance report for the first quarter of 2024. Total revenue was RMB 6.77 billion, down 3.4% year-on-year from RMB 7.0 billion in the same period in 2023. Net profit attributable to non-IFRS was RMB1,704 million, up 20.8% year-on-year from RMB1,411 billion in the same period last year. In the past two years, many trends have emerged in the music streaming industry. Fierce competition in the short video industry has pushed music platforms back to the heart of music. User payment habits have been cultivated. Platform subscription revenue has risen sharply, and the gross profit margin of music platforms after exclusive copyright was banned
Express News | NYSE Order Imbalance 174338.0 Shares on Sell Side
Goldman Sachs: Maintaining Tencent Music-SW (01698) “Buy” Rating and Raising Target Price to HK$62.3
The Zhitong Finance App learned that Goldman Sachs released a research report stating that maintaining the Tencent Music-SW (01698) “buy” rating, the company's compound annual profit growth rate from 2024 to 2025 is expected to be 26%, and the target price was raised to HK$62.3. The company's first-quarter results beat expectations. Revenue was 2% and 3% higher than the bank's and market expectations, operating profit was 25% higher than the bank's expectations, and net profit was 12% and 11% higher than the bank's and market expectations, respectively. The bank believes that through closer partnerships with record companies, Tencent Music may reduce its revenue share ratio with record companies; shareholder return plans
[Broker Focus] BOC International's target price increase for Tencent Music (01698) by 30% indicates continued optimism about the growth potential of long-term music members
Jinwu Financial News | According to BOC International Development Research Report, Tencent Music (01698)'s revenue for the first quarter exceeded market expectations by 3%. The gross margin was 41%, and the month-on-month optimization was 8/3 percentage points. Adjusted net profit increased by 24% year on year, higher than the bank's forecast of 13%, corresponding to the adjusted net interest rate of 27%, an increase of 6/3 percentage points over the same period last year. Strong growth in subscriptions and advertising led to online music revenue exceeding expectations by 3% in the first quarter. Online music revenue was 5 billion yuan, an increase of 43% over the previous year. The net month-on-month increase of 6.8 million music members reached a record high, corresponding to a payment rate of 19.6%. Looking ahead, the bank expects music for the 2nd quarter
Express News | NYSE Order Imbalance 78835.0 Shares on Sell Side
Huya Upgraded as It Evolves Beyond Live Streaming: Morgan Stanley
Express News | Refile-Tencent : Benchmark Raises Target Price to HK$540 (Clarifies Currency and Company Ticker Symbol)
Express News | Tencent : Benchmark Raises Target Price to $540
Tencent Conference Call: Advertising and Gaming Benefit from AI Deployment, Total Game Traffic Resumes Growth
Specifically, among Tencent's three main businesses, revenue from the value-added services business fell 0.9% year-on-year in the first quarter of 2024. Tencent said that with the implementation of various government economic stimulus measures, Tencent expects this trend to gradually reverse and the fintech business to resume growth. Moreover, Tencent has achieved initial results in monetizing SaaS products that have been provided free of charge for a long time. Tencent will continue to steadily advance the monetization process of SaaS services in the future. In the advertising business, Tencent continues to innovate advertising technology and uses AI to optimize advertising targeting to enhance its competitiveness and efficiency. In the game business, Tencent expects that with the advancement of technology, the mixed-element big model can be developed into multi-modal AI in the future, which can create high-quality video content and further help game production.
Express News | NYSE Order Imbalance 149378.0 Shares on Sell Side
HSBC Adjusts Price Target on Tencent Music Entertainment to $15.50 From $10.40, Keeps Hold Rating
HSBC Adjusts Price Target on Tencent Music Entertainment to $15.50 From $10.40, Keeps Hold Rating.
Tencent Music Ent Price Target Raised to $19.00/Share From $14.00 by Benchmark
Tencent Music Ent Price Target Raised to $19.00/Share From $14.00 by Benchmark
Shares of US-listed Chinese Stocks Are Trading Lower in Sympathy With Alibaba, Which Dropped After Mixed Q1 Earnings. Additionally, Biden Is Expected to Increased Tariffs Targeting Multiple Chinese Sectors.
Shares of US-listed Chinese Stocks Are Trading Lower in Sympathy With Alibaba, Which Dropped After Mixed Q1 Earnings. Additionally, Biden Is Expected to Increased Tariffs Targeting Multiple Chinese Se
Planet Fitness To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Tuesday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.Roth MKM cu
Tencent Music Records Third Straight Quarter of Falling Revenue, Dragged Down by Declining Livestreaming Earnings
Tencent Music Entertainment Group First Quarter 2024 Earnings: Beats Expectations