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Tencent Music Shares Jump on Earnings Release, Market Rebounds Following Tariff-Induced Slump
Tencent Music Entertainment's stock jumped 12% after its quarterly earnings release showed a big increase in subscribers and subscription revenue.
After a four-week span that negated some positive earnings results and strong global trends, music stocks received a reprieve from the gloom that has spread over the economy since the Trump administration imposed tariffs on Canada, Mexico and European countries. Tencent Music Entertainment shares rose 11.6% to $14.00 after the company’s fourth-quarter earnings release on Tuesday (March 18) showed a big increase in both subscribers and subscription revenue. The company announced on Thursday at named Anjali Sud, CEO of on-demand video streaming platform Tubi, as an independent director to its board.
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