Tencent Music is adding subscribers at an impressive pace, suggesting its antitrust woes are over. Its karaoke apps, though, are losing users. Shares have more than halved this year, yet it’s too soon to call bottom: mak_robyn
Tencent Music Entertainment on Aug. 16 said revenue in the three months to end-June was 8 billion yuan , an increase of 16% year on year. Online paying users increased 41% to 66.2 million.
Net profit attributable to equity holders of the company decreased 12% from a year earlier, to 827 million yuan. Separately, Tencent Music is considering delaying a planned Hong Kong listing until next year, the Nikkei reported on Aug. 16, citing people familiar with the matter. Shares of New York-listed Tencent Music closed down 9% to $8.92 on Aug. 16, before the earnings results. They rose 3.4% during after-hours trading.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.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Tencent Music Reports Strong Quarter Before Regulator CrackdownWhile Chinese regulators were placing strict control upon the country’s tech sector, local music streaming giant Tencent Music improved revenue and subscriber numbers.
Consulte Mais informação »
Tencent Music Changes Focus After Regulatory Slap, Profits DropChina’s Tencent Music Entertainment is to adjust its business model after being hit with regulatory penalties and seeing its share tumble to record lows. It will downplay music streaming and contro…
Consulte Mais informação »
Stocks making the biggest moves after hours: Tencent Music, Roblox & moreCheck out the companies making headlines in after-hours trading.
Consulte Mais informação »
Madonna to Reissue Albums, Curate Music in New Deal With Warner Music GroupMadonna and her original music label, Warner Music Group, are teaming up again in a deal that will include reissued albums and new deluxe editions curated by the performer over the next few years
Consulte Mais informação »
Universal Music China Plans Major Expansion of Local Recording OperationsUniversal Music Greater China, part of Universal Music Group, has unveiled plans to significantly expand its recorded music activities in the Middle Kingdom. It aims to create a multi-label structu…
Consulte Mais informação »
First Stream: New Music From Lizzo & Cardi B, Machine Gun Kelly and MoreThis week, Lizzo and Cardi B are here to address the “Rumors,” Machine Gun Kelly swaggers back with a new single and Justin Bieber hops on another rising hit.
Consulte Mais informação »