TME - US Stocks Higher; Tencent Music Shares Fall After Q1 Results | Benzinga
U.S. stocks traded higher this morning, with the Dow Jones gaining around 90 points on Monday.
Following the market opening Monday, the Dow traded up 0.24% to 39,606.48 while the NASDAQ rose 0.32% to 16,392.92. The S&P 500 also rose, gaining, 0.22% to 5,233.92.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 0.1% on Monday.
In trading on Monday, communication services shares fell by 0.2%.
Top Headline
Shares of Tencent Music Entertainment Group (NYSE:TME) gained over 5% on Monday after the company reported results for its first quarter.
The company reported a fiscal first-quarter 2024 revenue decline of 3.4% year-over-year to $937.0 million (6.77 billion Chinese yuan), beating the analyst consensus estimate of $917.6 million. Its adjusted EPADS of $0.15 (CNY1.09) beat the analyst consensus estimate of $0.14.
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