UPDATE 2: Tencent Music [TME] stock took a hit Wednesday after the streamer’s first post-IPO report to investors included a $127 million quarterly loss. Tencent stock closed Wednesday at $16.66 USD, down $1.91 or 10.29% and fell another 1% in after hours trading. Investors were not happy, even though the…
Category archives: Tencent Music
Tencent Music stock falls following first post-IPO earnings report
Revenues hit $785m in Q4 with a net loss of $127m
The post Tencent Music stock falls following first post-IPO earnings report appeared first on Music Business Worldwide.
Tencent Music Shares Dip 8% Following a Monstrous $127 Million Quarterly Loss
Tencent Music Entertainment continues to grow, but after receiving bad news yesterday, investors punished the company’s stock. Several days ago, Tencent Music Entertainment (TME) shares reached an all-time high. Investors had pushed the Chinese streami…
Tencent Music Posts $127M Loss, 664M Monthly Active Users
Tencent Music posted a $127 million loss in its first quarterly report its a December 2018 IPO. The loss, which the streamer forecast in its IPO prospectus stems from a one time $221 million stock issuance to Warner Music Group and Sony Music Entertainment. Tencent Music reported 664 million monthly…
WED. BRIEF: Tencent Music Posts $120M Loss • Pandora Adds Modes AEG Adds Mission Fair Ticketing • More
WEDNESDAY 3.20.19
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Tencent Music’s Group Vice President Andy Ng stands down
Exec is a leading figure at China’s biggest streaming music company
The post Tencent Music’s Group Vice President Andy Ng stands down appeared first on Music Business Worldwide.
Tencent Music Confirms ‘Strategic Investment’ in Rival Douban FM
Tencent Music’s strategic investment may finally help Douban FM compete in the Chinese streaming music market. As of late, Tencent Music Entertainment (TME) has enjoyed a good ride. Two months ago, the music division of Chinese conglomerate Tencent Hol…
Tencent Music Entertainment’s Rising Stock Briefly Makes Co-Presidents Billionaires
For a brief moment, Tencent Music Entertainment’s shares had made new billionaires. Following Tencent Music’s IPO, the Chinese streaming music giant’s stock has remained relatively volatile. Despite opening at $13 per share, the company’s stock quickly…
Tencent Music (TME) Upgraded As Analyst Praises Streamer’s Unique, Profitable Revenue Model
Just weeks after Tencent Music’s belated IPO on the New York Stock Exchange, JPMorgan has given a strong endorsement to the Chinese Music streamer, moving it from hold to buy with a $16.00 target price. Tencent Music closed Friday trading at $14.35, up 10.6% on the news. JPMorgan analyst Alex…
TUE. BRIEF: Tencent Stock Upgrade • Spotify Adds Artist Blocking • Apple Music, Spotify Data Protection Complaints • More
TUESDAY 1.22.19
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