FAST NEWS: Cloud Music posts first annual profit
The latest: Chinese music platform Cloud Music Inc. (9899.HK) on Thursday reported a net profit of 734 million yuan ($102 million) for 2023, reversing a loss of 221 million yuan in 2022…
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…
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…
Thrifty Tencent Music sings new AI growth story
China’s leading online music platform disappointed investors with its latest results that show its revenue flatlined in the fourth quarter amid growing competition Key Takeaways: Tencent Music’s revenue fell slightly…
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…
FAST NEWS: Cloud Music’s Gross Profit Jumps on Social Services, Cost Controls
The latest: Cloud Music Inc. (9899.HK), the music arm of gaming giant NetEase (NTES.US; 9999.HK), said on Thursday its revenue rose 22.5% year-on-year in the third quarter to 2.36 billion…