Tencent Music Profit Jumps 35% on Subscriber Growth ...Middle East

Tencent Music Entertainment reported a 35% uptick in profit on Tuesday after the Chinese music streamer added 2 million subscribers over the third quarter. TME reported net profit for the third quarter of RMB1.71 billion ($244 million), and total revenues of RMB7.02 billion ($1 billion)–increases of 35.3% and 6.8% respectively from the third quarter last year. Music subscription revenue grew by more than 20%, which offset the continued decline in social entertainment services revenue TME has seen for more than a year. “This quarter’s robust music subscription performance, with better-than-expected net subscriber

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Tencent Music Profit Jumps 35% on Subscriber Growth ...Middle East

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