24/7 Market News Snapshot 18 March, 2025 – Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (NYSE:TME)
DENVER, Colo., 18 March, 2025 (247marketnews.com) – (NYSE:TME) are discussed in this article.
Tencent Music Entertainment Group (TME) has recently demonstrated strong stock performance, with shares opening at $14.19 and rising to $14.475, reflecting an impressive increase of approximately 10.83% from the previous close of $13.06. This upward trend is supported by a substantial trading volume of 20.76 million shares, indicating robust investor interest. Analysts suggest that maintaining trading above the $14.25 resistance level could lead to further gains, while a drop below $14.00 may indicate a potential reversal. As traders monitor these critical price levels, the sentiment surrounding TME remains positive.
In addition to its stock performance, TME has reported remarkable financial results for the fourth quarter and the full year ended December 31, 2024. Total revenues surged to RMB 7.46 billion (approximately US$1.02 billion), marking an 8.2% year-over-year increase, largely driven by substantial growth in the online music segment. Revenue from music subscriptions reached RMB 4.03 billion (about US$552 million), an 18.0% rise, accompanied by a 13.4% increase in paying users to 121 million, showcasing TME’s commitment to enhancing user experiences and expanding exclusive offerings.
The company also reported a net profit of RMB 2.08 billion (US$284 million) for the fourth quarter, a remarkable 47.3% growth year-over-year, while full-year net profit reached RMB 7.11 billion (US$974 million), a 36.2% increase fueled by strategic investments and operational efficiencies. The Board of Directors announced a cash dividend of approximately US$273 million, emphasizing the company’s dedication to shareholder value, alongside a new share repurchase program authorizing up to US$1 billion in buybacks over the next 24 months.
Executives have reiterated TME’s strategic focus on transforming the music landscape, enhancing user engagement, and leveraging new technologies, thereby solidifying its position as a leading player in the global audio entertainment industry.