Update: Tencent Music Entertainment Shares Fall After Q2 Results
MT Newswires Live
Yesterday
(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
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.