Bulletin
Investor Alert

New York Markets After Hours

Nov. 11, 2019, 5:13 p.m. EST

Tencent Music Entertainment's sales rise 31% in Q3

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tencent Music Entertainment Group ADR (TME)

or Cancel Already have a watchlist? Log In

By Kimberly Chin

Tencent Music Entertainment Group /zigman2/quotes/205527956/composite TME +1.17% reported higher net income in the third quarter as revenue rose.

The music streaming-service company said profit rose to 1.02 billion yuan ($143 million) from 964 million yuan a year earlier.

Revenue rose 31% to 6.51 billion yuan ($910 million).

Analysts surveyed by FactSet expected a profit of 907.2 million yuan and 6.37 billion yuan in sales.

Tencent Music reported 35.4 million online-music paying subscribers, up 42% from last year, and 12.2 million social-entertainment paying subscribers, compared with 9.9 million in the third quarter a year earlier.

Write to Kimberly Chin at kimberly.chin@wsj.com

/zigman2/quotes/205527956/composite
US : U.S.: NYSE
$ 12.07
+0.14 +1.17%
Volume: 4.07M
Dec. 11, 2019 4:10p
P/E Ratio
69.17
Dividend Yield
N/A
Market Cap
$3.66 billion
Rev. per Employee
$1.19M
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.