5月14日，腾讯音乐(TME)股价盘中大涨10.55%。该公司近期发布的2025年第一季度财报显示，业绩表现超出市场预期，多家券商随后上调了其目标价。
根据财报，腾讯音乐第一季度总收入同比增长8.7%至73.6亿元，调整后净利润同比增长22.8%至22.3亿元。其中，在线音乐业务表现尤为亮眼，收入同比增长15.9%至58亿元。付费用户数增长8.3%至1.229亿，单个付费用户月均收入（ARPPU）从去年同期的10.6元提升至11.4元，反映出用户付费意愿及消费能力的提升。
受此利好消息影响，多家券商纷纷上调腾讯音乐目标价。其中，摩根士丹利将目标价上调12.2%至16.5美元。分析师普遍认为，腾讯音乐在线音乐业务的持续增长以及盈利能力的提升是推动股价上涨的主要因素。此外，公司在长音频内容方面的布局也引起了市场关注，被视为未来潜在的新增长点。长音频内容正成为促进超级会员用户转化与留存的重要驱动力，有望进一步提升公司的用户价值。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.