Streaming Growth Helps Tencent Music Lift Profits by a Third in Second Quarter

Tencent Music Entertainment, China’s largest online music firm, raised its profits by a third in the April to June second quarter of its financial year, despite a marginal decrease in revenues. The company reported three-month revenues of RMB7.16 billion ($ 985 million), a year-on-year decrease of 2%, and net profits of RMB1.79 billion ($ 247 million). On […]
Variety