Why Tencent Music Entertainment Plunged Almost 30% This Week

Shares of Tencent Music Entertainment (NYSE: TME) fell 28.8% this week through 3:30 p.m. Friday, according to data from S&P Global Market Intelligence.Tencent Music is sometimes regarded as the "Spotify (NYSE: SPOT) of China," since it's the leading streaming music subscription service in the country. However, Tencent Music's business is a bit different, as it also generates revenue from social music interactions, such as karaoke tipping and other interactive services.This week, Tencent Music held its fourth-quarter earnings. While the headline numbers themselves weren't bad, some concerns emerged over certain KPIs (key performance indicators). Management also said it would no longer disclose certain KPIs going forward, fueling more investor skepticism.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool