China’s top music streaming company still hasn’t won over the bulls.
News & Analysis: Tencent Music Entertainment Group
The company received analyst upgrades and inked a big new partnership with a popular Japanese film studio.
China’s steaming music leader is more profitable, but it faces tougher headwinds with a wobblier business model.
Shares are up roughly 4% year to date, but they still trade down roughly 6% from their December IPO.
TME earnings call for the period ending March 31, 2020.
Fewer people are buying virtual gifts for live streamers as the pandemic throttles discretionary spending.
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The music platform’s growth has accelerated.
TME earnings call for the period ending December 31, 2019.