Tencent Music Files 2023 Annual Financial Report
TipRanks (Thu, 18-Apr 5:27 PM ET)
Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-F
PRNewswire (Thu, 18-Apr 4:50 PM ET)
Tencent Music: A Harmonious Future with Robust Subscriber and Ad Revenue Growth
TipRanks (Thu, 18-Apr 1:05 AM ET)
Buy Rating for Tencent Music: Forecasting Substantial Subscriber Growth and Robust Profitability
TipRanks (Tue, 16-Apr 1:26 PM ET)
Tencent Music to Unveil Q1 2024 Financials
TipRanks (Mon, 15-Apr 8:59 PM ET)
Tencent Music Entertainment Group to Report First Quarter 2024 Financial Results on May 13, 2024
PRNewswire (Mon, 15-Apr 6:00 AM ET)
Tencent Music Entertainment Group Announces Senior Management Changes
PRNewswire (Fri, 22-Mar 12:00 AM ET)
PRNewswire (Tue, 19-Mar 5:00 AM ET)
PRNewswire (Tue, 20-Feb 5:00 AM ET)
PRNewswire (Thu, 25-Jan 9:00 PM ET)
TME is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.
Tencent Music Enter Gr trades on the NYSE stock market under the symbol TME.
As of April 18, 2024, TME stock price climbed to $11.58 with 6,097,979 million shares trading.
TME has a beta of 1.09, meaning it tends to be more sensitive to market movements. TME has a correlation of 0.12 to the broad based SPY ETF.
TME has a market cap of $19.87 billion. This is considered a Large Cap stock.
Last quarter Tencent Music Enter Gr reported $971 million in Revenue and $.14 earnings per share. This beat revenue expectation by $39 million and met earnings estimates .
In the last 3 years, TME stock traded as high as $19.84 and as low as $2.95.
The top ETF exchange traded funds that TME belongs to (by Net Assets): KWEB, VXUS, VWO, IEMG, MCHI.
TME has outperformed the market in the last year with a price return of +44.2% while the SPY ETF gained +22.3%. TME has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +33.0% and +1.5%, respectively, while the SPY returned +6.1% and -3.8%, respectively.
TME support price is $11.02 and resistance is $11.52 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TME stock will trade within this expected range on the day.