Latest news with #TencentMusicEntertainment
Time of India
13-05-2025
- Business
- Time of India
Tencent Music's quarterly revenue jumps amid growth in subscribers
HighlightsTencent Music Entertainment surpassed analysts' expectations with a first-quarter revenue increase of 8.7 percent, reaching 7.36 billion yuan, driven primarily by a 16.6 percent rise in music subscription revenue. The company's premium Super VIP membership, offering a combination of long-form audio content, online karaoke services, and high-quality sound, has seen significant growth in user adoption. Despite overall revenue gains, Tencent Music's social entertainment division, which includes the karaoke application WeSing and live concert platform Kuwo Music, experienced an 11.9 percent decline in revenue due to regulatory changes affecting live-streaming features. Tencent Music Entertainment exceeded analysts' expectations for first-quarter revenue on Tuesday, driven by growth in subscribers for its online music services . The U.S.-listed shares of the company were up 2 per cent in premarket trading. Tencent Music's premium Super VIP (SVIP) membership, which combines long-form audio content, online karaoke services and high-quality sound, has gained significant traction among users. The company is taking the right steps by providing affordable entertainment options to users amid a slowing economy, analysts said last month. Revenue from music subscriptions grew 16.6 per cent to 4.22 billion yuan ($586.1 million), while paying users increased by 8.3 per cent to 122.9 million. However, the social entertainment division remains a drag on the overall growth due to the removal of certain live-streaming features to adhere to Beijing's anti-gambling regulations. For the first quarter, revenue from the social entertainment services business, which includes karaoke app WeSing and live concert platform Kuwo Music, fell 11.9 per cent to 1.55 billion yuan. The company posted an 8.7 per cent increase in revenue to 7.36 billion yuan for the quarter ended March, beating analysts' estimates of 7.27 billion yuan, according to data compiled by LSEG. The music firm is also in advanced talks to acquire China's largest online audio platform, Ximalaya, which would broaden its portfolio.
Yahoo
12-05-2025
- Business
- Yahoo
April CPI, On Holding earnings, NFIB optimism: What to Watch
Market Domination Overtime co-hosts Julie Hyman and Josh Lipton preview several of the top market and industry stories to come tomorrow, Tuesday, May 13, including earnings from companies like (JD), Tencent Music Entertainment (TME), and Oklo (OKLO), in addition to April's Consumer Price Index (CPI) report due out in the morning. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
South China Morning Post
28-03-2025
- Automotive
- South China Morning Post
Hong Kong stocks rise for a third day as investors look past US car tariffs
Hong Kong stocks rose for a third day on Friday, as investors' worries about US car tariffs eased although more tariff announcements loomed on April 2. Advertisement The Hang Seng Index added 0.3 per cent to 23,658.46 as of 10.10am. The Hang Seng Tech Index rose 0.1 per cent. On the mainland, the CSI 300 Index traded 0.2 per cent lower, while the Shanghai Composite Index declined 0.3 per cent. Sportswear maker Li Ning added 4.4 per cent to HK$17.88 after its full-year sales and operating profit exceeded analysts' expectations. Alibaba Group Holding rose 1.8 per cent to HK$132.50, while Tencent Music Entertainment gained 2.1 per cent to HK$57.80. advanced 2.1 per cent to HK$511.00. Having digested US President Donald Trump's 25 per cent tariffs on car imports, investors are bracing for a slew of new tariff announcements on April 2, which are likely to fuel inflation in the US. Trimming the gains, Nio sank 7.5 per cent to HK$30.10 after it announced a new share placement in Hong Kong, joining its peers BYD and Xiaomi selling additional shares this month. Haier Smart Home dropped 5.1 per cent to HK$25.35 after its net income for the full year missed estimates, while laptop maker Lenovo Group declined 4.1 per cent to HK$10.90. Advertisement ICBC, China's biggest bank by assets, dropped 0.5 per cent to HK$5.51, while China Construction Bank was mostly flat. Both banks will announce their results later in the day.
Reuters
18-03-2025
- Business
- Reuters
Tencent Music Entertainment beats quarterly revenue estimates
March 18 (Reuters) - Tencent Music Entertainment ( opens new tab beat analysts' expectations for fourth-quarter revenue on Tuesday, backed by the strong growth of streaming services. For the three months through December, the company's revenue rose 8.2% from a year earlier to 7.46 billion yuan ($1.03 billion), above analysts' average estimate of 7.30 billion yuan, according to data compiled by LSEG. here. ($1 = 7.2228 Chinese yuan renminbi)
