TCEHY Stock Recent News

Tencent stock has outperformed US tech peers as of late. The company has not posted the acceleration in revenue growth that I had hoped for. I adjust my fair valuation in light of current Chinese market conditions.

Tencent Music Entertainment Group NYSE: TME is the largest music streaming company in China. The company's shares have been a bright spot for investors in the country over the past 52 weeks, providing a total return of 84%.

There is still a lot of work to be done, but it is starting to look like the technology sector in China's stock market could soon be about to pose a recovery. There are not too many investors brave enough to venture into overseas markets, let alone China, given the current geopolitical tensions that negatively affect business valuations in the region.

Vey-Sern Ling, senior equity advisor at UBP, says he expects a "significantly weaker" set of results from companies like Alibaba and JD.com.

Payments firm Airwallex is nearing an annual revenue run rate of $500 million after seeing significant growth in its North American and European businesses, CEO Jack Zhang told CNBC. Zhang is looking to get Airwallex's business in shape so that it's ready for an initial public offering by 2026, the CEO said.

Tencent delivered an earnings beat. However, bad macroeconomic data around China's July lending led to a downdraft in shares.

Tencent's revenue has seen a significant boost, thanks to the strong performance of their game Dungeon Fighter Mobile.

BofA Securities analyst Lei Zhang reiterated a Buy rating on Tencent Music Entertainment Group – ADR TME with a price target of $15, down from $18.

Tencent Holdings Limited (OTCPK:TCEHY) Q2 2024 Earnings Conference Call August 14, 2024 8:00 AM ET Company Participants Wendy Huang - Investor Relations Pony Ma - Chairman and Chief Executive Officer Martin Lau - President James Mitchell - Chief Strategy Officer John Lo - Chief Financial Officer Conference Call Participants Alicia Yap - Citigroup Kenneth Fong - UBS Ronald Keung - Goldman Sachs Alex Yao - JP Morgan Charlene Liu - HSBC William Packer - BNP Paribas Thomas Chong - Jefferies Gary Yu - Morgan Stanley Wendy Huang Good day and good evening. Thank you for standing by.

Chinese internet giant Tencent announced on Wednesday an 82 percent surge in second-quarter net profit, its biggest jump since late 2020, after a resurgence in its gaming business.