Tencent News: Why Is TME Stock Plunging 15% Today?
TCEHYTENCENT(TCEHY) Investor Place·2024-08-14 00:06

Tencent Music Entertainment (NYSE:TME) stock is falling on Tuesday after the online music entertainment platform company reported earnings for the second quarter of 2024.The bad news for investors in TME stock starts with its adjusted earnings per share of 65 cents. That’s a miss next to Wall Street’s estimate of 1.18 yuan. Adding to this trouble is revenue of 7.16 billion yuan. That only just came in above analysts’ revenue estimate of 7.14 billion yuan.Tencent Music Entertainment also notes that its Q2 20 ...