FAST NEWS: Tencent Music’s profit jumps, but social entertainment revenue sinks
The latest: Tencent Music Entertainment Group (TME.US; 1698.HK) on Tuesday announced its third-quarter net profit rose 10.1% year-on-year to 1.17 billion yuan ($160 million), mainly due to a 14.8% drop…
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FAST NEWS: Cloud Music shares plunge on revenue decline
The latest: Chinese music platform Cloud Music Inc. (9899.HK) last Friday reported first-quarter revenue of 1.96 billion yuan ($277 million), down 5.2% year-over-year and 17.5% quarter-over-quarter, respectively. Its gross profit for…
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FAST NEWS: Cloud Music’s Loss Narrows on Better User Monetization
The latest: Cloud Music Inc. (9899.HK), the music arm of gaming giant NetEase (NTES.US; 9999.HK), announced Thursday that its revenue rose 28.5% to 8.99 billion yuan ($1.29 billion) last year,…
Tencent Music Hears Happy Tunes from Growing List of Paying Users
China’s leading online music service provider’s profit grew 38.7% in the third-quarter Key Takeaways:Tencent Music’s net profit jumped by 38.7% in the third quarter to over 1 billion yuan as…
