Tencent Music Entertainment Group stock rose nearly 12% after impressive earnings report

From Nasdaq.: 2025-03-21 18:05:00

Tencent Music Entertainment Group (NYSE: TME) impressed investors with its latest earnings report, causing the stock to rise by nearly 12%. The company reported total revenue of 7.46 billion yuan ($1.03 billion) for the quarter, with music subscriptions contributing significantly to the growth. Profit according to IFRS standards also increased to 2.08 billion yuan ($287 million). Analysts had anticipated lower figures, making Tencent Music’s performance even more impressive. The company’s success in reshaping the music industry and boosting subscriber numbers is evident in its financial results.

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Read more at Nasdaq.: Why Tencent Music Entertainment Group Was Music to Investor Ears This Week