Jefferies Reiterates Buy Rating on Tencent Music Entertainment Group (TME)
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August 14, 2024 6:43 AM EDT
BofA Securities analyst Lei Zhang lowered the price target on Tencent Music Entertainment Group (NYSE: TME) to $15.00 (from $18.00) while maintaining a Buy rating.
The analyst comments "Tencent Music (TME) delivered a largely inline 2Q result, while co indicates it is the... More
August 13, 2024 6:08 AM EDT
Citi analyst Alicia Yap reiterated a Buy rating and $18.00 price target on Tencent Music Entertainment Group (NYSE: TME).
The analyst comments "TME reported 2Q24 total revs of Rmb7.16bn (-1.7% yoy), 2.4% ahead of our estimate of Rmb6.99bn and inline with consensus of... More
August 13, 2024 5:12 AM EDT
Tencent Music (NYSE: TME) reported Q2 EPS of RMB1.07, RMB0.03 worse than the analyst estimate of RMB1.10. Revenue for the quarter came in at RMB7.16 billion versus the consensus estimate of RMB7.15 billion.
For earnings history and earnings-related data on Tencent Music (TME) click here.
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August 13, 2024 5:08 AM EDT
(Reuters) -China's Tencent Music Entertainment reported a smaller than expected fall in quarterly revenue on Tuesday, cushioned by an increase in paying subscribers at its music streaming platforms.
The Tencent Holdings-controlled company said revenue fell 1.7% to 7.16 billion yuan ($999 million) in the three months ended June 30, the fourth straight quarterly drop as it struggles with Beijing's crackdown on live-streaming.
However, that was just ahead of analysts' average forecast of 7.14 billion yuan,... More
