16.05 -0.26 (-1.59%)
After hours: 7:59PM EDT
|Bid||16.05 x 1200|
|Ask||16.58 x 1400|
|Day's range||16.21 - 17.41|
|52-week range||9.22 - 17.97|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||50.37|
|Forward dividend & yield||N/A (N/A)|
|1y target est||104.17|
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.
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).
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.
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.
Stocks rose modestly on the last trading day of the year Tuesday, capping a year that generated eye-popping returns. Investors shrugged off President Donald Trump's tweet that a Phase 1 trade deal with China would be signed January 15th. The major indexes gained three-tenths percent on the day. For 2019, the S&P rose nearly 29% and the Nasdaq gained 35% -- both posting their best yearly performance since 2013. Fi Plan Partners president Greg Powell: SOUNDBITE: FI PLAN PARTNERS PRESIDENT, GREG POWELL: "I think today basically people just saying, 'Hey, it's been a great year. If I need to take some profits or take some losses, I'll just get that worked out today.'" Shares of Tencent Music Entertainment rose. The Chinese company is leading a consortium that will buy a 10% stake in Vivendi's Universal Music Group, home to artists such as Taylor Swift and The Beatles. Dick's Sporting Goods shares rallied. Cowen raised its price target and earnings estimates on the sporting goods retailer. Shares of Avon fell. The cosmetic company will be removed from the S&P Small Cap 600 index on January 6. Shares of the company replacing it, NexPoint Residential Trust, jumped.
PARIS/HONG KONG (Reuters) - A Tencent-led consortium is taking a 10% stake in Vivendi's Universal Music Group, valuing the music label that houses Lady Gaga and The Beatles at 30 billion euros ($34 billion) and giving the Chinese firm a global backstage pass. The deal allows both companies to expand in a recovering global music market, giving Tencent more access to U.S. artists while UMG can tap into the Asian market, including big-selling "K-Pop" Korean pop stars. After months of talks, French media conglomerate Vivendi said on Tuesday it had finalised the sale of an initial 10% of the world's largest music label to the Tencent consortium, which also had the option to buy up to 10% more by January 2021 on the same price basis.
NEW YORK, Nov. 25, 2019 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Tencent Music Entertainment Group (NYSE: TME) from.
NEW YORK, Nov. 25, 2019 -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies..
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Tencent Music Entertainment Group (“Tencent” or “the Company”) (TME) and certain of its officers, on behalf of shareholders who purchased Tencent securities between December 12, 2018 through August 26, 2019, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
Pomerantz LLP is investigating claims on behalf of investors of Tencent Music Entertainment Group (“Tencent” or the “Company”) (TME). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. The investigation concerns whether Tencent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
NEW YORK, Nov. 19, 2019 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Tencent Music Entertainment Group (NYSE: TME) from.
NEW YORK, Nov. 19, 2019 -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies..
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
Bernstein Liebhard LLP announces that class action complaints have been filed on behalf of shareholders of MYGN, TME, and OSTK. If you wish to serve as lead plaintiff, you must move the court by the lead plaintiff deadlines listed below. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
NEW YORK, Nov. 14, 2019 -- The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a.
Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, reminds investors that class action lawsuits have been commenced on behalf of stockholders of Tencent Music Entertainment Group (TME), Myriad Genetics, Inc. (MYGN), Overstock.com, Inc. (OSTK), and Waitr Holdings, Inc. (WTRH). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. On August 27, 2019, Bloomberg reported that the State Administration of Market Regulation, China’s antitrust authority, was investigating exclusive licensing deals between Tencent Music and major record labels including Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion. Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to firstname.lastname@example.org.
NEW YORK, Nov. 12, 2019 -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies..
Tencent Music's (TME) third-quarter 2019 results benefit from expanded paid mobile subscriber base and increase in the number of users willing to pay for premium music service.
NEW YORK, Nov. 08, 2019 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Tencent Music Entertainment Group (NYSE: TME) from.