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<Research>Citi Expects Tencent Music 2Q Adj. NP to Grow 13%; TP Kept at US$17
Citi published a research report, saying that TME-SW (01698.HK)(TME.US) delivered shiny 1Q25 results, with total revenue growing by 8.7% YoY and adjusted net profit hiking by 23%, ...
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<Research>Citi Expects Tencent Music 2Q Adj. NP to Grow 13%; TP Kept at US$17
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Citi published a research report, saying that TME-SW (01698.HK)  -1.400 (-2.131%)    Short selling $6.20M; Ratio 19.634%   (TME.US)      delivered shiny 1Q25 results, with total revenue growing by 8.7% YoY and adjusted net profit hiking by 23%, topping the broker's expectations by 2% and 9%, respectively, and surpassing the market consensus by 1% and 8%.

This was believed to be due to the growth in online music subscription revenue and non-member online music revenue, which offset the decline in social entertainment business income during the period.

Related NewsCMBI Lifts Tencent Music (TME.US) TP to US$17.5, Rating Buy
The Buy rating and the target price of US$17 for U.S. stocks of Tencent Music remained unchanged.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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