Tencent Music Soars After Strong Q2 Earnings Beat Projections
Tencent Music Soars After Strong Q2 Earnings Beat Projections Tencent Music Entertainment Group (TME) saw its shares surge 16% following the announcement of its robust second-quarter results, which significantly surpassed analyst expectations for both revenue and profit. The impressive performance was largely driven by a substantial increase in subscriber growth across its online music services. The company reported total revenue of 8.44 billion Chinese yuan (approximately $1.18 billion), marking an 18% increase compared to the same period last year. The…