BRIEF: Tech stocks shine in Hang Seng Composite review, consumer and pharma lag
Hong Kong’s benchmark Hang Seng Index (HSI) remained unchanged at 83 constituents in the compiler’s latest adjustments, while the Hang Seng Composite Index’s (HSCI) constituents dropped from 517 to 505…
BRIEF: Tencent Music profit jumps on strong gains for music service
Tencent Music Entertainment Group (TME.US; 1698.HK) said Tuesday its revenue rose 6.8% year-on-year to 7.02 billion yuan ($1 billion) in the third quarter, while its non-GAAP adjusted net profit jumped…
FAST NEWS: Tencent Music’s profit climbs on paying user growth
The Latest: Tencent Music Entertainment Group (TME.US; 1698.HK) on Tuesday announced its second-quarter net profit rose 29.6% year-on-year to 1.68 billion yuan ($231 million). Looking Up: The company's profit rose even as its…
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…
