Tencent Music opens for trading, now up 10.6% [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 (NYSE: TME ) opened at $14.10/share and are sitting at $14.15 now, from the IPO price of $13. The shares priced at the bottom of their range yesterday in the $1.1B offering from the Tencent ( OTCPK:TCEHY ) spin-off. Still, WSJ's Heard on the Street suggested that even at that level the shares were overpriced . There are crucial differences in the company's business model from that of Spotify (NYSE: SPOT ) that could weigh on Tencent Music, it says, including that the company's main revenue source isn't actually music streaming but selling virtual gifts to tip entertainers. The $13/share price put TME trading at 43 times trailing earnings, WSJ notes, vs. multiples of 14 at U.S.-listed live-streaming peers YY ( YY ) and Momo ( MOMO ). See all stocks on the move » Now read: My Oh My, Has Fixed Income Really Died? - Part II » Subscribe for full text news in your inbox
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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