Tencent Music announces upcoming Q2 results, with institutions stating a net increase of approximately 3.7 million paying users
胡胡胡美丽_ss
发表于 2024-8-13 13:15:31
169
0
0
Tencent Music SW (01698. HK) announced its second quarter results and its stock price rose first. As of press time, it rose 5.38% to HKD 53.85.
Note: Trend of Tencent Music SW
On the news front, Tencent Music will announce its second quarter performance after the Hong Kong stock market closes today, and the market is full of expectations for its performance.
Firstly, Morgan Stanley recently released a research report stating that the likelihood of Tencent Music's US stock price rising in the next 60 days exceeds 80%. They believe that although the stock price has been affected by recent market adjustments, Tencent Music's short-term valuation has become more attractive as a result.
Da Mo further pointed out that Tencent Music's valuation is equivalent to a predicted P/E ratio of less than 15 times in 2025, and it is expected that the adjusted net profit will reach 9.5 billion yuan, a year-on-year increase of over 25%. Driven by the growth of subscription users, advertising revenue, other music revenue, and improved profit margins, the company's stock price still has significant upward potential. In addition, the market generally expects Tencent Music's upcoming second quarter performance and third quarter guidance to be slightly higher than expected.
Goldman Sachs reports a net increase of approximately 3.7 million paying users in the second quarter
Meanwhile, Goldman Sachs recently released its research report on Tencent Music, giving it a "buy" rating and setting a target price of HKD 62.3. Despite the impact of macro concerns on the Chinese market, the company's stock price has remained strong since its performance announcement on May 10th. Tencent Music's P/E ratio is close to 20 times, which is a premium to the Internet sector. In the future, investors need to pay attention to the risks of slowing down music subscriptions and their reasonable valuation levels.
According to industry research, Tencent Music's subscription revenue increased by 30% in the second quarter and until mid July. Considering the high willingness and retention rate of users to pay, Goldman Sachs expects a net increase of approximately 3.7 million paying users in the quarter.
In addition, the Goldman Sachs report also pointed out that there is further room for Tencent Music's music profit margin to increase, and it is expected that the gross profit margin will reach over 43% by the end of the year. Given that Tencent Music's music business revenue has grown by over 20% over the years, a 20 times P/E ratio is reasonable. Compared to Spotify's projected P/E ratio of 40 times in 2025, Tencent Music's valuation is more attractive.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Tencent: Feature adaptation with Taobao platform merchants is currently being launched
- Great reconciliation?! Taobao+WeChat Pay has gone viral! Tencent's latest response
- NIO's Q2 revenue and delivery volume hit new highs
- NIO's Q2 revenue and delivery volume hit new highs
- Affected by the positive performance in the second quarter, NIO's US stock closed up more than 14%, and multiple investment banks raised their ratings
- Nancai Compliance Weekly (Issue 158): Breaking the ice in the Tencent Apple battle; Where did the personal information of 1.4 billion users go? The privacy policy of the operator cannot be answered
- Multi brand car models launch iteration accelerates NIO's Q2 sales gross profit double increase
- The gaming industry is' saturated ': Tencent, NetEase eat meat, mid waist manufacturers drink soup
- The impact of the founder incident has not dissipated, and Douyu's performance in the second quarter is under pressure: the business structure continues to optimize, and diversified transformation still needs to "break through the circle"
- Tencent Music Entertainment Group releases its first ESG report, using music to shape a sustainable future
-
9月が終わり、映画・テレビ業界が暗躍している。最近、愛奇芸の創始者でCEOのGONG宇氏は、映画・テレビ業界が長短の変化、AIの変化、中国映画・テレビドラマの海外進出の変化の3つの変化を経験していると発表した。 ...
- 寒郁轩良
- 昨天 14:17
- 支持
- 反对
- 回复
- 收藏
-
8月のトヨタ自動車(ダイハツ自動車と日野自動車を除く、レクサスを含む)の世界生産台数は前年同月比11.2%減の709571台、世界販売台数は前年同月比3.1%減の826863台だった。 日本本土市場では、トヨタ自動車の8月 ...
- SOGO
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
ネットワーク状況監視サイトDownDetectorによると、オーディオストリーミングプラットフォームSpotifyは日曜日に約3時間にわたる障害を経験した後、正常に回復し、ピーク時には米国の4万人以上のユーザーに影響を与 ...
- hecgdge4
- 昨天 09:33
- 支持
- 反对
- 回复
- 收藏
-
百済神州(688235.SH)はA株の有名な革新薬企業で、2017-2024年上半期、同社の各期の研究開発投資はA株の化学製薬会社(申万二級)の中で最も高く、研究開発費用は合計600億元を超えた。 しかし、百済神州にとって ...
- wylz8473
- 前天 18:36
- 支持
- 反对
- 回复
- 收藏