Tencent Music Entertainment Group ADR (TME) News
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TME News Highlights
- TME's 30 day story count now stands at 3.
- Over the past 1 day, the trend for TME's stories per day has been choppy and unclear. It has oscillated between 1 and 2.
- The most mentioned tickers in articles about TME are PAY, PLUG and RBLX.
Latest TME News From Around the Web
Below are the latest news stories about TENCENT MUSIC ENTERTAINMENT GROUP that investors may wish to consider to help them evaluate TME as an investment opportunity.
The 3 Most Undervalued Chinese Stocks to Buy in September 2023The CCP government is increasing its stimulus efforts, which could revitalize these beaten-down Chinese stocks. |
Implied Volatility Surging for Tencent Music (TME) Stock OptionsInvestors need to pay close attention to Tencent Music (TME) stock based on the movements in the options market lately. |
China online platforms scrap lucky draw features amid gambling crackdownChinese online content platforms including Tencent Music and NetEase's Cloud Music have removed live streaming features that analysts say could be used for illegal gambling, at a hefty cost to their quarterly revenues. Analysts say online content platforms pulled the plug on features such as virtual lucky draws after the government in June started cracking down on live streaming, as part of a wider clampdown on online gambling. While the platforms say they ban gambling, analysts say the extremely popular lucky draws are often manipulated by live streamers colluding with viewers to share the prize. |
2 Stocks to Buy Before They Take OffThe Nasdaq Composite has rebounded 31% this year, and yet there are still several opportunities to put money to work in strong companies that haven't joined the rally. One area that is ripe for the picking right now is leading entertainment stocks that got crushed in 2022's bear market. Two candidates to consider are popular gaming platform Roblox (NYSE: RBLX) and China's leading music streaming company Tencent Music Entertainment Group (NYSE: TME). |
Why Tencent Music Entertainment Stock Was Up This WeekWeek to date, shares of Tencent Music Entertainment Group (NYSE: TME) were up 12% as of 2:44 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. In its second-quarter earnings release on Aug. 15, Tencent Music reported strong revenue growth from online music services, driving total revenue up 5.5% year over year. Revenue was in line with expectations, but demand for the company's online music platform surpassed estimates, sending the stock higher. |
Q2 2023 Tencent Music Entertainment Group Earnings CallQ2 2023 Tencent Music Entertainment Group Earnings Call |
This Spotify Rival From China Just Saw Its MAUs Dip in Q2, Stock SlidesTencent Music Entertainment Group (NYSE: TME) reported second-quarter revenue growth of 5.5% year-over-year to $1.01 billion, missing the consensus of $1.03 billion. Adjusted EPADS of $0.13 missed the consensus of $0.14. Key Metrics: The Q2 Monthly active users (MAUs) for online music declined by 4.7% Y/Y to 594 million. Mobile MAUs for social entertainment decreased by 18.1% Y/Y to 136 million. Monthly ARPPU for online music grew by 14.1% Y/Y to RMB9.7, Monthly ARPPU for social entertainment de |
Midday movers: Home Depot, Tesla, General Motors and moreInvesting.com -- U.S. stocks were falling on Tuesday after stronger than expected retail sales data stoked rate fears and weak Chinese economic data raised concerns about slowing global growth. |
UPDATE 5-Tencent Music's quarterly revenue rises but warns of decline aheadChina's Tencent Music Entertainment Group reported a 5.5% increase in quarterly revenue thanks to a rise in user subscriptions but warned that future revenue will shrink because of tighter live-streaming controls. The Spotify-like music streaming company controlled by Chinese tech giant Tencent Holdings is making adjustments to its live-streaming business in order to "better control potential risks the platform may face in the future," Tony Yip, its chief strategy officer, told analysts on a call. The move comes after China launched an anti-gambling crackdown in June that has forced many internet platforms to disable lucrative features such as virtual item trades. |
Tencent Music's quarterly revenue rises but warns of decline ahead(Reuters) -China's Tencent Music Entertainment Group reported a 5.5% increase in quarterly revenue thanks to a rise in user subscriptions but warned that future revenue will shrink because of tighter live-streaming controls. The Spotify-like music streaming company controlled by Chinese tech giant Tencent Holdings is making adjustments to its live-streaming business in order to "better control potential risks the platform may face in the future," Tony Yip, its chief strategy officer, told analysts on a call. The move comes after China launched an anti-gambling crackdown in June that has forced many internet platforms to disable lucrative features such as virtual item trades. |