TME - Tencent Music Entertainment Group

NYSE - NYSE Delayed Price. Currency in USD
12.92
+0.69 (+5.64%)
At close: 4:00PM EDT
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Engulfing Line (Bullish)

Engulfing Line (Bullish)

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close12.23
Open12.30
Bid12.61 x 28000
Ask12.75 x 21500
Day's Range12.24 - 13.00
52 Week Range9.22 - 16.74
Volume50,534,938
Avg. Volume9,064,244
Market Cap21.674B
Beta (5Y Monthly)N/A
PE Ratio (TTM)39.88
EPS (TTM)0.32
Earnings DateMay 11, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est13.99
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
53% Est. Return
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    The Beat Goes On for the Global Music Industry Despite Covid-19. Goldman Picks the Winners.

    It is going to be a painful year for the global music industry as concerts get shelved, but the best has yet to come, says Goldman Sachs.

  • Tencent Music Entertainment Group (TME) Q1 2020 Earnings Call Transcript
    Motley Fool

    Tencent Music Entertainment Group (TME) Q1 2020 Earnings Call Transcript

    Now I will turn the conference over to your speaker host today, Ms. Millicent T. Please go ahead, ma'am. Tencent Music announced its quarterly financial results today after the market close. Today, you'll hear from Mr. Cussion Pang, our CEO, who will start the call with an overview of our recent achievements and growth strategies.

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  • Tencent Music First-Quarter Results Fall Short On Revenue
    Investor's Business Daily

    Tencent Music First-Quarter Results Fall Short On Revenue

    Tencent Music stock dropped in late trading after the China-based provider of streaming music services reported quarterly results that beat on earnings but missed estimates on revenue.

  • Tencent Music’s Biggest Growth Engine Sputters Out During the COVID-19 Crisis
    Motley Fool

    Tencent Music’s Biggest Growth Engine Sputters Out During the COVID-19 Crisis

    Fewer people are buying virtual gifts for live streamers as the pandemic throttles discretionary spending.

  • China’s Tencent Music Is Little Shaken by Coronavirus Impact
    Variety

    China’s Tencent Music Is Little Shaken by Coronavirus Impact

    The coronavirus outbreak weighed on costs at Tencent Music Entertainment, China’s largest online music business. But the stay-at-home orders helped the group to increase its paying subscriber numbers. For the first three months of the year, revenues the company showed revenues gaining by 10% to RMB6.31 billion ($891 million), and net profits down 10% to […]

  • Tencent Music bets on China's crowded audio content space
    TechCrunch

    Tencent Music bets on China's crowded audio content space

    Listeners of podcasts, audiobooks and other audio shows are estimated to number 542 million in China this year, according to a third-party survey by marketing firm iiMedia. The group's main line of businesses goes beyond music streaming to encompass virtual karaoke, live streaming and audio content; a category that has recently seen a big push from the firm. In its newly released quarterly report, TME said it has made "significant progress in expanding" its audio library by adding thousands of new adaptions from popular IP pieces and works from independent producers.

  • TheStreet.com

    Tencent Music Drops After-Hours on Disappointing Revenue

    The social entertainment firm reported healthy growth in its online music segment, but missed estimates on quarterly revenue.

  • Tencent Music misses quarterly revenue estimates, signals better second quarter
    Reuters

    Tencent Music misses quarterly revenue estimates, signals better second quarter

    Monthly average revenue per subscriber paying for the company's social entertainment services fell 13% in the first quarter ended March 31. Tencent Music, controlled by Chinese tech giant Tencent Holdings <0700.HK>, gets nearly three quarters of its revenue from this business, unlike peers including Spotify <SPOT.N> who make most of their money from music subscriptions. Tencent Music, which had warned of soft first-quarter sales in March, said revenue in the period rose about 10% to 6.31 billion yuan ($889 million).

  • PR Newswire

    Tencent Music Entertainment Group Announces First Quarter 2020 Unaudited Financial Results

    Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2020.

  • Tencent Buys Stake in Music-for-Business Firm
    Variety

    Tencent Buys Stake in Music-for-Business Firm

    China’s Tencent Music has completed an investment in Radio Music Warehouse, a music-for-business company that distributes content to shops offices and other workplaces. The deal was announced this week with few financial terms disclosed. One of the few details shows that Tencent has been granted the right to increase its stake to a position of […]

  • Tencent Music Completed Investment in Radio Music, a Leading Music-for-business Provider in China
    PR Newswire

    Tencent Music Completed Investment in Radio Music, a Leading Music-for-business Provider in China

    Tencent Music Entertainment (TME) (NYSE: TME) announced it has completed an equity investment in Radio Music Warehouse, a leading music company that provides music streaming solutions to business use in China, on April 27. TME has also obtained a right to further increase its shareholdings to controlling stake in the company. Upon completion of the transaction, TME will provide Radio Music with access to a rich and diversified music library to meet the personalized demands of its customers. At the same time, TME will promote and distribute its high quality music content, via the hundreds of thousand offline spots in China that is using Radio Music's in-store music solutions.

  • Tencent Music Entertainment Group to Report First Quarter 2020 Financial Results on May 11, 2020 Eastern Time
    PR Newswire

    Tencent Music Entertainment Group to Report First Quarter 2020 Financial Results on May 11, 2020 Eastern Time

    Tencent Music Entertainment Group ("Tencent Music", "TME", or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that it will report its unaudited financial results for the first quarter of 2020 after the U.S. market closes on Monday, May 11, 2020.

  • If You Had Bought Tencent Music Entertainment Group (NYSE:TME) Stock A Year Ago, You'd Be Sitting On A 39% Loss, Today
    Simply Wall St.

    If You Had Bought Tencent Music Entertainment Group (NYSE:TME) Stock A Year Ago, You'd Be Sitting On A 39% Loss, Today

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  • Stay home and karaoke: Tencent's JOOX sees usage spike in Southeast Asia
    Reuters

    Stay home and karaoke: Tencent's JOOX sees usage spike in Southeast Asia

    Lockdowns and travel retrictions prompted by the new coronavirus have been a boon to JOOX, Chinese tech giant Tencent's international music streaming platform, driving traffic to its karaoke services up by as much as 50%, an executive said. Launched in 2015, JOOX is an overseas version of China's top music streaming company Tencent Music Entertainment Group and marks the gaming and social media group's international challenge to bigger rivals such as Spotify Technology SA. JOOX, which operates in Southeast Asia, Hong Kong and South Africa, is already vying for the top spot in music streaming services with Alphabet Inc's Youtube Music and Spotify in Indonesia, Malaysia and Thailand.

  • Vivendi Closes $3.3 Billion Sale of UMG to Tencent-Led Consortium
    Variety

    Vivendi Closes $3.3 Billion Sale of UMG to Tencent-Led Consortium

    Vivendi has closed the sale of 10% of its subsidiary Universal Music Group to a consortium led by the Chinese tech giant Tencent. The deal, which was announced in December, values UMG at €30 billion ($33 billion). As part of the agreement, the consortium - which includes Tencent Music Entertainment, as well as other financial […]

  • Reuters

    Vivendi closes sale of 10% stake in Universal to Tencent consortium

    Vivendi closed on Tuesday the sale of a 10% stake in Universal Music Group (UMG) - home to Taylor Swift and The Beatles - to a Tencent-led consortium, in a deal giving UMG an enterprise value of 30 billion euros ($33 billion). The French conglomerate, in which billionaire Vincent Bollore's holding company has the biggest stake, said it would now examine the possible sale of other minority interests in UMG, with an initial public offering of those assets planned for early 2023.

  • Consortium Including Tencent Music Entertainment Group Completed Acquisition of Equity Interests in Universal Music Group
    PR Newswire

    Consortium Including Tencent Music Entertainment Group Completed Acquisition of Equity Interests in Universal Music Group

    Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that a consortium (the "Consortium") led by Tencent Holdings Limited (00700.HK) and participated by the Company (through one of its wholly-owned subsidiaries) and other co-investors has completed the acquisition of a 10% equity stake in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA), at an enterprise value of EUR30 billion for 100% of UMG's share capital (the "Transaction"). The Consortium has the option to purchase up to an additional 10% equity stake in UMG at an equivalent enterprise valuation as in the Transaction until January 15, 2021.

  • Tencent Music Entertainment Group Filed 2019 Annual Report on Form 20-F
    PR Newswire

    Tencent Music Entertainment Group Filed 2019 Annual Report on Form 20-F

    Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that it has filed its annual report on Form 20-F that includes its audited financial statements for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission (the "SEC") on March 25, 2020, U. S. Eastern Time.

  • Tencent Music (TME) Q4 Earnings Beat, Revenues Rise Y/Y
    Zacks

    Tencent Music (TME) Q4 Earnings Beat, Revenues Rise Y/Y

    Tencent Music's (TME) fourth-quarter 2019 results benefit from expanded paid mobile subscriber base and increase in the number of users willing to pay for premium music service.

  • Paying Subscriber Growth Lifts Profit at China’s Tencent Music
    Variety

    Paying Subscriber Growth Lifts Profit at China’s Tencent Music

    Tencent Music Entertainment, China’s leading online music conglomerate, increased revenues and profits in its 2019 financial year. That follows growth in the number of paying subscribers and their average spend with the company.The New York Stock Exchange-listed group, which is poised to soon buy a chunk of Universal Music, said in in regulatory filing that revenue in its year to end December grew by 34% to RMB25.43 billion ($3.65 billion) and that operating profit increased by 127% to RMB4.62 billion ($664 million).Net profit attributable to equity holders more than doubled to RMB3.98 billion ($572 million), though the company also uses another measure (non-IFRS) profit which increased by 18% to RMB 4.91 billion ($705 million).While there was no significant change to its more than 600 million monthly average users, the number of paying subscribers to its music services grew by 48%, to 39 million. Average revenue per subscriber grew by 8%. Revenue from music subscriptions was RMB3.56 billion ($512 million), up from RMB2.50 billion in 2018.The company said that growth came from “solidified content leadership” involving strategic partnerships with more local and international music labels. It expanded its content offering to include more short videos, long-form audio, music-centric variety shows, as well as original soundtracks for films, games, drama series and literature.“Our strategic transition to pay-for-streaming service has started to pay off, contributing to paying ratio expansion for online music services to 6.2% in the fourth quarter of 2019, up significantly from 4.2% for the same quarter of 2018. As a further testament to the quality of our online music paying user growth, we recorded a 4.5% quarter-over-quarter ARPPU expansion, in addition to continuously improved user retention. Our unique capability in operating a fan-based economy also showed strong momentum in 2019, achieving high double-digit year-over-year growth in the number of users buying digital albums," said CEO, Cussion Pang.For 2020, Tencent Music expects to expand its services with live content, and more long-form music, and to benefit from a new partnership with China Literature, another Tencent portfolio operation. The company’s filing made no reference to the coronavirus outbreak and its impact on current business. Tencent Music is part of a consortium unveiled in December last year that has agreed to acquire a 10% equity stake in Universal Music. The deal has not yet closed.The consortium also has the option to purchase an additional 10% equity stake in UMG. “Prior to the closing of the transaction, Tencent Music and UMG also intend to enter into a second agreement that grants Tencent Music an option to acquire a minority equity stake in UMG's Greater China business,” Tencent Music said in its filing.Tencent Music’s parent company, Hong Kong-listed Tencent is scheduled to announce its financial results on Wednesday. More from Variety * Vivendi Closes $3.3 Billion Sale of UMG to Tencent-Led Consortium * Universal Music Group Announces Coronavirus-Relief Initiatives * Steve Earle Pulls Out of Universal Music Fire Lawsuit

  • Tencent Music to see softer first quarter; beats fourth-quarter revenue estimates on paying user surge
    Reuters

    Tencent Music to see softer first quarter; beats fourth-quarter revenue estimates on paying user surge

    The company's music streaming service added more paying users, its results showed, sending its shares up 3% in U.S. extended trading. "For the full year, even though total revenue growth is expected to be slower than original expectation due to the short-term impact in the first half, we expect revenue growth to improve in the second half," said Chief Executive Cussion Pang on an earning call after markets closed. The firm mainly attributed the expected slowdown to licensing and advertising revenue decline.

  • ACCESSWIRE

    Tencent Music Entertainment Group to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / March 16, 2020 / Tencent Music Entertainment Group (NYSE:TME) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on March 16, 2020 ...

  • Tencent Music Stock Wavers As Fourth-Quarter Earnings Top Estimates
    Investor's Business Daily

    Tencent Music Stock Wavers As Fourth-Quarter Earnings Top Estimates

    Tencent Music stocked wavered Monday as the China-based provider of streaming music services reported fourth-quarter results after the market close that beat Wall Street estimates.

  • MarketWatch

    Tencent Music swings to fourth-quarter profit

    Tencent Music Entertainment Group ADR reported a swing to a fourth-quarter profit as the Chinese music streaming service saw a surge in revenue. Tencent American depositary receipts rose 2.3% after hours, following a 3.1% decline to close the regular session at $11.05 on Monday. The company reported fourth-quarter net income of $149 million, or 9 cents per ADS, (or 1.04 billion renmibi, or 62 renmibi per ADS) as revenue rose 35% to $1.05 billion from the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 9 cents on revenue of $1.01 billion. In the year-ago quarter, the company reported a loss of 875 million renmibi, or 56 renmibi per ADS, on revenue of 5.4 billion renmibi.