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Universal Music Group shares jump 12% on strong Q3
Original: Universal Music Group shares jump 12% after Q3 subscription growth accelerates
Universal Music Group shares rose 12% after the company reported accelerating subscription revenue growth in its third-quarter results. Investors welcomed the stronger streaming momentum, sending the stock sharply higher. The company, home to artists including Taylor Swift and Drake, is seen as a key beneficiary of paid music streaming growth.
Why now: Better-than-expected subscription growth in Q3 results lifted investor sentiment toward the stock.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/4238361