Tencent Music’s earnings meet expectations, but costs hit discordant note

📆 20.03.2019 23:30:00
📰 BDliveSA

⏱ Reading Time:
23 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 63%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

Tencent Music has been profitable at an operating level for the past two years, whereas Spotify only posted its first quarterly operating profit in its history in the fourth quarter

Tencent Music Entertainment celebrates the company’s initial public offering on the floor of the New York Stock Exchange in New York, the US, in December 2018. Picture: REUTERS/BRYAN R SMITH

Unlike western peers such as Spotify Technology, Tencent Music generates only a fraction of revenue from music subscription packages, and instead relies heavily on services popular in China such as online karaoke and live streaming. Tencent Music, controlled by Chinese technology giant Tencent Holdings and backed by Spotify, said quarterly revenue jumped 50.5% to 5.4-billion yuan, versus analysts' average estimate of 5.3-billion yuan.

Написать комментарий

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Sasfin earnings jump thanks to healthier credit bookFinancial services company headline earnings grow 59.9%
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

RMB Holdings says earnings grew in line with FirstRand’sFNB gains help earnings grow 7% to R4.4bn despite ‘significant turbulence’ in the macroeconomic environment
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

Quantum Foods warns of big drop in interim earningsShares in poultry and animal-feeds company slide 4.1% on news that half-year earnings will fall at least 42%
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »