Tencent Music Profits Hold up in Second Quarter
China’s leading online music firm Tencent Music Entertainment pointed to increased investment as the reason for a no better than flat performance in the first half of the year.
Revenues for the April to June quarter were RMB6.93 billion ($981 million), an increase of 18% year-over-year, and up 14% to RMB13.2 billion for the first six months of the year.