Tencent Music Earnings Top Views By Slim Margin – Investor's Business Daily

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Tencent Music Entertainment (TME) reported first-quarter results Monday that came in just above Wall Street estimates, and the stock climbed during after-hours trading.

A spinoff of Tencent Holdings (TCEHY), Tencent Music reported earnings of 11 cents per American depositary share on revenue of $855 million. Wall Street expected earnings of 10 cents on revenue of $850 million. The Tencent earnings report came after the market close.

Tencent Music stock was up 1.1%, near 16.20, during after-hours trading on the stock market today. The China-based music streaming provider held its initial public offering in December, pricing shares at 13. The company says it’s the largest online music entertainment platform in China. It operates the top four music mobile apps in terms of mobile monthly active users.

More to follow.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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