Tencent Music rose more than 7% intraday, the company will announce its results after the market closes, and institutions are optimistic about the outlook

Zhitong
2024.08.13 07:23

Tencent Music surged over 7% in the afternoon, now trading at HKD 54 with a total market value of HKD 185.3 billion. On the news front, Tencent Music will announce its second-quarter results after the Hong Kong stock market today. According to industry surveys, Tencent Music's subscription revenue for the second quarter and up to mid-July has increased by 30%. Considering the high willingness of users to pay and the retention rate, Goldman Sachs expects a net increase of about 3.7 million paid users for the quarter. Meanwhile, Morgan Stanley expects its second-quarter performance to be slightly above market expectations

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.