TME Stock Recent News

Investors interested in stocks from the Internet - Content sector have probably already heard of Tencent Music Entertainment Group Sponsored ADR (TME) and RELX PLC (RELX). But which of these two stocks offers value investors a better bang for their buck right now?

Tencent Music reported better-than-expected earnings results this week. China's leading music service provider is benefiting from broad demand for music streaming.

Tencent Music Entertainment (TME), China's Spotify, has announced a significant surge in both subscribers and revenue. The Shenzhen-based firm, which owns platforms such as QQ Music, Kugo, and Kuwou, said its paying user base hit 99.4 million for the three months ended June 30, up 20% on the same period last year.

China's Tencent Music Entertainment Group , said on Tuesday second-quarter revenue rose 5.5% from a year ago, driven by growth in paying users on its Spotify-like music streaming platform and a recovery in the advertising market.

Tencent Music Entertainment Group Inc is scheduled to report earnings Tuesday before the bell.  The biggest online music platform in China is expected to post second-quarter revenue of $1.01 billion and earnings of $0.14 per share.

SOHO, GFF and TME made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 12, 2023.

Tencent Music Entertainment Group shares surged by +8.3% on May 17 after announcing good Q1 results and guidance, but the stock lost all its gains in the subsequent four trading days. Tencent Music Entertainment's lack of room for profitability improvement and its unattractive valuations have hurt its stock price performance. My rating for Tencent Music Entertainment stock stays as a hold; I am staying on the sidelines till its valuations become more attractive or new catalysts are identified.

Tencent Music Entertainment Group Sponsored ADR (TME) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Investors need to pay close attention to Tencent Music (TME) stock based on the movements in the options market lately.

The mean of analysts' price targets for Tencent Music Entertainment Group Sponsored ADR (TME) points to a 34.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.