Tencent Music -7.3% after Q2 profits beat [Seeking Alpha]
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: Seeking Alpha
Tencent Music Entertainment (NYSE: TME ) has after hours following Q2 earnings where it topped profit expectations after growing paying music subscribers to a record. Revenues jumped 31% to 5.9B yuan (about $859M), and operating profit rose 7% to 1.09B yuan (about $158M). Meanwhile adjusted attributable net profit rose 5.5% to 1.13B yuan (about $164M). In user metrics, mobile monthly active users for online music rose 1.2% to 652M, while MAUs for social entertainment increased 4.8%, to $239M. Paying users rose 33% in online music to a record 31M, while paying users in social entertainment rose 16.8% to 11.1%. And ARPPU for online music dropped 1.1% to 8.6 yuan, while ARPPU for social entertainment increased 16.5% to 130.2 yuan. In terms of strategy: "In order to provide users a consistent and cohesive listening experience, we are forging Internet of Things partnerships with leading manufacturers of cars, smart speakers and smart watches, which will provide
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TME
News
- Analysts Are Updating Their Tencent Music Entertainment Group (NYSE:TME) Estimates After Its Full-Year Results [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-FPR Newswire
- Tencent Music Entertainment Group to Report First Quarter 2024 Financial Results on May 13, 2024PR Newswire
- Returns On Capital Are Showing Encouraging Signs At Tencent Music Entertainment Group (NYSE:TME) [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group (NYSE:TME) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
TME
Earnings
- 3/19/24 - In-Line
TME
Sec Filings
- 4/18/24 - Form 6-K
- 4/18/24 - Form 20-F
- 4/15/24 - Form 6-K
- TME's page on the SEC website