Tencent Music Entertainment's Profit Balloons 202% in Q1

MT Newswires Live

05/13

Tencent Music Entertainment (HKG:1698) recorded a 202% rise in attributable profit in the first quarter to 4.29 billion yuan from 1.42 billion yuan a year prior, a Tuesday filing with the Hong Kong bourse said.

Earnings per share rose to 1.40 yuan in the three months from 0.46 yuan in the same period last year.

The online music platform's revenue rose 8.7% to 7.36 billion yuan from 6.77 billion yuan previously, mainly due to a higher revenue from online music services.

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