Update: Tencent Music Entertainment Shares Fall After Q2 Results

MT Newswires Live

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(Updates to add the company's latest stock move in the headline and in the first paragraph.)

Tencent Music Entertainment (TME) shares fell by nearly 10% in early Tuesday trading after the company reported its Q2 results.

The China-based music platform posted Q2 non-IFRS earnings Tuesday of 1.70 Chinese renminbi ($0.25) per diluted American depositary share, up from 1.66 renminbi a year earlier.

Analysts polled by FactSet expected 1.64 renminbi.

Revenue for the quarter ended June 30 was 8.93 billion renminbi, compared with 8.44 billion renminbi a year earlier.

Analysts expected 8.81 billion renminbi.

Price: 8.97, Change: -0.94, Percent Change: -9.44

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