Previous Close | 4.1500 |
Open | 4.3700 |
Bid | 4.0000 x 4000 |
Ask | 4.0400 x 3100 |
Day's Range | 3.9200 - 4.4150 |
52 Week Range | 2.9500 - 16.5300 |
Volume | |
Avg. Volume | 20,219,835 |
Market Cap | 6.933B |
Beta (5Y Monthly) | 1.13 |
PE Ratio (TTM) | 15.43 |
EPS (TTM) | 0.2650 |
Earnings Date | Aug 15, 2022 - Aug 19, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 12.46 |
Subscribe to Yahoo Finance Plus to view Fair Value for TME
China's Tencent Music Entertainment posted a 15% slump in first-quarter revenue, matching expectations, but saw its shares join a sector-wide surge on Tuesday as hopes grew for a loosening of regulatory curbs on China's tech giants. As part of a broad clampdown on China's internet firms that began last year, regulators stripped Tencent Music of its exclusive contracts with big music labels, spurring competition from rivals like Cloud Music and Bytedance-owned short video sharing platform Douyin. Analysts said the revenue drop had been well flagged by Tencent Music, and shares gained 3.4% in after-hours New York trading as Chinese state media reported the country's top political consultative body was hosting a meeting on Tuesday with some firms on how to promote the digital economy.
China's Tencent Music Entertainment posted a 15% slump in first-quarter revenue, matching expectations, but saw its shares join a sector-wide surge on Tuesday as hopes grew for a loosening of regulatory curbs on China's tech giants. As part of a broad clampdown on China's internet firms that began last year, regulators stripped Tencent Music of its exclusive contracts with big music labels, spurring competition from rivals like Cloud Music and Bytedance-owned short video sharing platform Douyin. Analysts said the revenue drop had been well flagged by Tencent Music, and shares gained 3.4% in after-hours New York trading as Chinese state media reported the country's top political consultative body was hosting a meeting on Tuesday with some firms on how to promote the digital economy.
Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2022.