March 19, 2019 / 8:40 PM / 3 months ago

Tencent Music reports full-year 2018 profit of 1.83 bln yuan

March 19 (Reuters) - China-based music streaming company Tencent Music Entertainment Group on Tuesday reported a profit of 1.83 billion yuan ($272.7 million) for full-year 2018, in its first earnings report since going public.

The company, controlled by Chinese tech giant Tencent Holdings Ltd, reported a net loss of 875 million yuan ($130.39 million) in the fourth quarter due to a one-off share-based accounting charge.

Quarterly revenue rose 50.5 percent to 5.4 billion yuan ($804.7 million), beating the average analysts' estimates of 5.29 billion yuan.

$1 = 6.7106 Chinese yuan renminbi Reporting by Munsif Vengattil in Bengaluru and Sijia Jiang in Hong Kong; Editing by Shailesh Kuber

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below