Tencent Music posts over 15% rise in quarterly revenue By Reuters

August 16, 2021 admin Stock News 0

© Reuters. FILE PHOTO: The logo of China’s Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration

China’s Tencent Music Entertainment Group (NYSE:) posted a 15.5% rise in quarterly revenue on Monday, as its advertising business rebounded and more people subscribed to its music streaming platform.

Total revenue of the Tencent Holdings (OTC:) Ltd-controlled company rose to 8.01 billion yuan ($1.24 billion) in the second quarter. Analysts were expecting revenue of 8.13 billion yuan, according to IBES data from Refinitiv.

($1 = 6.4742 renminbi)

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