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Tencent Music Beats Quarterly Revenue Estimates

Tencent Music’s shares rose 2.4% as it exceeded quarterly revenue estimates with growth in its paid subscriber base

The company has been able to establish a robust foundation of long-term paying customers as a result of its targeted promotions.
Tencent Music has expanded its user base by engaging in multi-channel promotions with e-commerce, video platforms, and telecom operators.

In the second quarter, its online music unit experienced a 27.7% increase in revenue, partially compensating for a 42.8% decline in revenue in its social entertainment segment.


Under the control of Tencent Holdings, the company experienced a decline in total revenue during the second quarter, reaching 7.16 billion yuan ($998.59 million). According to LSEG data, analysts anticipated revenue of 7.14 billion yuan.
($1 is equivalent to 7.1701 Chinese yuan renminbi)

James Emmanuel

James is a Computer Science student with a robust foundation in tech and a skilled DevOps engineer. His technical expertise extends to his role as a news reporter at Protechbro, where he specializes in crafting well-informed, technical content that highlights the latest trends and innovations in technology.

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