|Bid||0.00 x 1200|
|Ask||0.00 x 2200|
|Day's range||24.84 - 27.00|
|52-week range||9.22 - 29.01|
|Beta (5Y monthly)||1.19|
|PE ratio (TTM)||79.94|
|Forward dividend & yield||N/A (N/A)|
|1y target est||23.83|
Tencent Music Entertainment broke out decisively today, clearing a 17.23 buy point from a modest handle. There were lots of little handle-like pauses in the right side of the base. None of the really a shakeout. At least one shows up on a weekly…
While its revenue rose to 7.58 billion yuan (£865 million) in the third quarter ended Sept. 30 from 6.51 billion yuan ($910 million) last year, paid subscribers in the company's online music service jumped 46% to 51.7 million. The company's Chief Strategy Officer Tony Yip said the retention rate of paying users continues to improve, and Tencent Music was using bundled discounts and promotions to capture long-term subscribers and "lock them in". While most of Tencent Music's users are in its music streaming unit, the firm's biggest revenue drivers are social entertainment services, including karaoke platforms, where users can live stream concerts and shows.
Tencent Music Entertainment (NYSE: TME), the top music streaming company in China, went public in late 2018 and its stock currently trades nearly 20% above its IPO price. Back in June, I explained why investors favored Spotify over Tencent Music: Spotify generated stronger growth in revenue and paid users, operated a simpler business model that didn't rely on live videos, and faced fewer regulatory challenges than Tencent Music. Tencent Music's recent second-quarter earnings report didn't bring back the bulls.