Bullish options flow was detected in TME stock on December 27, 2019.
On December 17, 2019, Tencent Music Entertainment Group announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to $400M of its Class A ordinary shares in the form of American depository shares, or ADSs, during a twelve-month period commencing on December 15.
Singer-songwriter Zhang Yixing performed at the first Tencent Music Entertainment Awards (TMEA), which was held in Macao by Tencent Music Entertainment (TME), on Dec 8th.
A star-studded gala, the first TMEA, was held in Macao on Dec. 8, which brought together singers and music groups from mainland China and abroad, including singer-songwriter Zhang Yixing, boy group TFBOYS and Irish vocal group Westlife.
With the theme of “IT’S T1ME FOR MUSIC”, the gala also awarded artists, including the Best Selling Digital Album of the Year for singer-songwriter Zhang Yixing’s album, entitled NAMANANA, the Most Popular Boy Group of the Year for TFBOYS and the Best Original Singer-Songwriter of the Year for Hong Kong-based American singer-songwriter and producer Khalil Fong.
The music gala marks the music giant’s effort to boost its original content and celebrate the industrial changes of the country.
TFBOYS received the Most Popular Boy Group of the Year at the first TMEA. Singer Zhang Liangying and singer-songwriter Xue Zhiqian performed at the awards.
Back on November 11, 2019, Tencent Music Entertainment Group (NYSE: TME), the leading online music entertainment platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2019.
Tencent Music reported Q3 EPS of 10c versus the consensus estimate of 9c. The company reported Q3 revenue of $910M versus the consensus estimate of $909.1M.
Tencent Music reported Q3 online music payers up 42.2% at 35.4M.
CEO Cussion Pang says: “We continued our solid performance in the third quarter, driven by healthy growth from both online music and social entertainment services. We are particularly pleased to report accelerating growth of our online music paying users, representing a 42.2% year-over-year increase, as the net increase in the third quarter reached 4.4 million, achieving another quarterly high and outpacing the record growth in the second quarter. More importantly, the high quality of this growth was demonstrated by the ARPPU expansion of 3.5% quarter-over-quarter. This is a strong endorsement of our continuous efforts to unlock the intrinsic value of music through our integrated music platform, and to cultivate the willingness of users to pay for premium music services. Thanks to our vast user base, deep understanding of music trends and user insights, we continued to develop our platform as the go-to destination for artists to build a fan-based economy. This strength, coupled with further investment in various forms of content, technology and services, will solidify our platform as an all-in-one music entertainment destination.”