Market News

Tencent Music Entertainment (NYSE: TME) Surges 30%; Here’s Why

Shares of Tencent Music Entertainment (NYSE: TME) surged more than 30% after it reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.12, which beat analysts’ consensus estimate of $0.09 per share.

Sales decreased by 14% year-over-year, with revenue hitting $1.04 billion. Nevertheless, this beat analysts’ target by more than $49 million.

In addition, the number of music subscribers increased to 85.3 million, equating to a gain of 20% on a year-over-year basis.

Is TME Stock a Buy?

TME stock has a Hold consensus rating based on one Buy, five Holds, and one Sell assigned in the past three months. The average TME stock price target of $5.13 implies almost 12% downside potential.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More