News Formal

Tencent Music meets profit estimates in first earnings report, shares fall

  • 📰 Reuters
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

China-based music streaming company Tencent Music Entertainment Group on Tuesday...

Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange in New York, U.S., December 12, 2018. REUTERS/Bryan R Smith

The company’s shares, which have gained about 43 percent since their market debut in December, fell 6.3 percent to $17.36 in extended trading. The company reported a net loss of 875 million yuan for the fourth quarter due to a one-off share-based accounting charge. Tencent Music, in which its Swedish competitor Spotify Technology SA owns a stake, said full-year profit was 1.83 billion yuan.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: FedEx, Tencent Music and moreSee which stocks are posting big moves after the bell on March 19.
Source: CNBC - 🏆 12. / 72 Read more »