Why Tencent Music Stock Sank This Week
Tencent Music served up solid Q2 results, but that wasn't enough for investors.
Overview
Tencent Music (NYSE: TME) stock saw a significant pullback this week, even though the company reported better-than-expected quarterly results. The company's share price closed out the week down 7.2%.
Tencent Music released its Q2 results on Wednesday, reporting sales and earnings that beat Wall Street's forecasts. On the other hand, investors appear to have been more concerned with the business's operating expenses increasing significantly and declining performance for the company's social entertainment services unit.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.