Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Tencent Music Stock Plunged Today

TheMotleyFool

0 0

Shares of Tencent Music Entertainment Group (NYSE: TME) fell 12% on Tuesday after the online music platform reported its second-quarter financial results.

Tencent Music's revenue rose 15.5% year over year to $1.2 billion. The gains were driven by a 40.6% surge in online music paying users, to 66.2 million, which fueled a 36.3% increase in revenue from music subscriptions, to $277 million.

"Our strong momentum in online music monetization was supported by solid subscriptions and advertising revenue growth," executive chairman Cussion Pang said in a press release.

Source Fool.com

Like: 0

TME

Share