---
title: "Tencent Music rose more than 7% intraday, the company will announce its results after the market closes, and institutions are optimistic about the outlook"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/211417207.md"
description: "Tencent Music surged more than 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 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 higher than market expectations"
datetime: "2024-08-13T07:23:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/211417207.md)
  - [en](https://longbridge.com/en/news/211417207.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/211417207.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/211417207.md) | [English](https://longbridge.com/en/news/211417207.md)


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

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

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- [TME-SW (01698.HK)](https://longbridge.com/zh-HK/quote/01698.HK.md)
- [Tencent Music (TME.US)](https://longbridge.com/zh-HK/quote/TME.US.md)

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