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Tencent Music Entertainment Stock Jumps 12% After Quarterly Earnings

News Snapshot:

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 Chinese streaming company’s revenue surpassed $1 billion in the fourth quarter, an 8.2% increase, and net profit climbed 47.3% to $284 million. Additionally, Tencent Music made two announcements that tend to…

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