Tencent Music beats quarterly revenue estimates [Reuters]
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: Reuters
May 13 (Reuters) - China's Tencent Music Entertainment Group , beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platform reported revenue of 6.77 billion yuan ($935.9 million) for the quarter ending March 31. Analysts were expecting revenue of 6.63 billion yuan, according to LSEG data. The company has capitalized on its position as the largest Chinese music-streaming platform with an attractive licensed music library and continues to focus on advertising services and artist merchandise. Paying users at its online music streaming service rose 20.2% to 113.5 million year-over-year. ($1 = 7.2338 Chinese yuan renminbi) The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up Reporting by Priyanka.G in Bengaluru; Editing by Sonia Cheema Our Standards:
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News
- Tencent Music Entertainment Group (TME) Reported Solid Revenue and Earnings Growth in Q1 [Yahoo! Finance]Yahoo! Finance
- Thailand's GMM Music Valued At $700 Million After Tencent Buys Stake [Forbes]Forbes
- Surging Earnings Estimates Signal Upside for Tencent Music Entertainment Group (TME) Stock [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group to Hold Annual General Meeting on June 28, 2024 [Yahoo! Finance]Yahoo! Finance
- Tencent Music Entertainment Group to Hold Annual General Meeting on June 28, 2024PR Newswire
TME
Earnings
- 5/13/24 - In-Line
TME
Sec Filings
- 6/3/24 - Form 6-K
- 5/21/24 - Form 6-K
- 5/21/24 - Form 144
- TME's page on the SEC website