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TME

Tencent Music

$14.44

-0.01 (-0.07%)

16:34
08/12/19
08/12
16:34
08/12/19
16:34

Tencent Music reports Q2 EPS 10c, consensus 9c

Reports Q2 revenue $859M, consensus $843M. "We are pleased with second quarter results driven by the strength of both our online music and social entertainment businesses," said Mr. Cussion Pang, Chief Executive Officer of Tencent Music. "The growth in our online music paying users accelerated during the quarter, with 2.6 million paying users added sequentially. We continued to expand our music content leadership by partnering with more music labels, as well as adding more content including music-centric variety shows, short-form videos and long-form audio such as audio books and podcasts. We strengthened our alliances to produce and distribute more high-quality original soundtracks, including our partnerships within the Tencent ecosystem to develop original music content for games, films and TV shows. In social entertainment, we not only effectively broadened our user base through mini-program and a lite version app, but also improved user engagement by adding new product features, especially social features with high user participation. We are pleased with our progress and confident that these initiatives will lead to further growth in the second half of the year."

  • 12

    Aug

TME Tencent Music
$14.44

-0.01 (-0.07%)

07/29/19
OPCO
07/29/19
INITIATION
Target $18
OPCO
Outperform
Tencent Music initiated with an Outperform at Oppenheimer
Oppenheimer initiated Tencent Music with an Outperform and $18 price target.
07/30/19
OPCO
07/30/19
INITIATION
Target $18
OPCO
Outperform
Opco starts Tencent Music at Outperform on 'massive monetization potential'
Oppenheimer analyst Bo Pei last night initiated coverage of Tencent Music with an Outperform rating and $18 price target. The company operates four of the five most popular digital music apps in China with market penetration of over 90%, Pei tells investors in a research note. However, only 4.3% of users subscribe to Tencent's music service and 4.8% of its users pay for social entertainment, which provides "massive monetization potential," contends the analyst. He believes Tencent Music will benefit from enhanced content leadership in the long term.
07/30/19
07/30/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tencent Music (TME) initiated with an Outperform at Oppenheimer. 2. Medallia (MDLA) initiated with an Overweight at Stephens. 3. Fanhua (FANH) initiated with an Overweight at Morgan Stanley. 4. Philips (PHG) initiated with a Buy at Citi. 5. Freshpet (FRPT) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/05/19
JEFF
08/05/19
INITIATION
Target $16.9
JEFF
Buy
Tencent Music initiated with a Buy at Jefferies
Jefferies analyst Thomas Chong initiated Tencent Music with a Buy rating and $16.90 price target, stating that he expects a rising paying ratio for membership as the company transitions from a pay-for-download to a pay-for-streaming model. He also thinks its investment in self-produced content can enhance user stickiness and monetization in the longer-term, Chong noted.

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