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Benzinga
Benzinga
Business
Anusuya Lahiri

Tencent Music Profits And Premium Sign-Ups Climb Despite Fewer Listeners

Tencent Music TME Entertainment
Palo,Alto,,Ca,,Usa,-,Feb,18,,2020:,The,Tencent

Tencent Music Entertainment (NYSE:TME) shares rose Tuesday after the company posted second-quarter results that topped expectations.

Revenue came in at $1.18 billion, up 17.9% year-over-year(Y/Y) , driven by robust growth in online music services. This strength was partly offset by lower revenue from social entertainment services and other segments. Analysts had projected $1.10 billion.

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