Previous close | 3.9000 |
Open | 3.8000 |
Bid | 2.7400 |
Ask | 2.9400 |
Strike | 340.00 |
Expiry date | 2024-07-19 |
Day's range | 2.8100 - 3.8000 |
Contract range | N/A |
Volume | |
Open interest | 272 |
(Reuters) -China's Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, helped by strong growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. Tencent Music's shares rose over 8% in morning trade in New York after the company said the number of its paying users rose 20.2% to 113.5 million from a year earlier,marking a record quarterly growth for this metric. This marks the third straight quarter that Tencent Music has suffered a revenue decline.
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A group that represents audio streaming firms including Spotify and France's Deezer in Europe has urged the European Commission to reject Apple's proposal in a music streaming case. Digital Music Europe expressed concern in a letter submitted to the European Commission on Tuesday that Apple's proposal to comply with the regulator's March order, in which the iPhone-maker was fined 1.84 billion euros ($1.98 billion), does not provide concrete and effective remedies.