Market Updates
U.S. Movers: JD.com, Tencent
Scott Peters
14 May, 2025
New York City
Tencent Music Entertainment Group surged 2.9% to $14.73 after the Chinese online music and audio entertainment platform reported first-quarter 2025 results.
Revenue jumped to 5.80 billion yuan from 5.01 billion yuan, profit climbed to 4.29 billion yuan from 1.42 billion yuan, and diluted earnings per share rose to 2.77 yuan from 0.91 yuan a year ago.
Revenue from music subscriptions increased 16.6% to 4.22 billion yuan, and the number of paying users edged up 8.3% to 122.9 million.
During the quarter, the music company repurchased a total of 5.9 million ADSs at an average price of $10.8 per ADS for a total of $64.5 million and paid a cash dividend of 18 cents per ADS, or 9 cents per ordinary share, for a total of $275 million in April.
JD.com Inc. soared 5.5% to $38.04 after the Chinese supply chain-based technology and service provider reported first-quarter 2025 results.
Revenue jumped to 301.08 billion yuan from 260.05 billion yuan, net income edged up to 10.89 billion yuan from 7.13 billion yuan, and diluted earnings per share rose to 3.59 yuan from 2.27 yuan a year ago.
Net income per ADS increased to 7.19 yuan from 4.53 yuan a year earlier.
During the quarter, the company launched its food delivery business and further strengthened its position as the first online marketplace for new and specialty medicine launches.
In addition, the company expanded its logistics services in Warsaw, Poland, and in Hong Kong.
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