Tencent Music (TME) Tops Q2 EPS by 1c
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Tencent Music Entertainment Group Announces Second Quarter 2020 Unaudited Financial Results
August 10, 2020 4:05 PM EDTSHENZHEN, China, Aug. 10, 2020 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2020.
Financial and Operational Highlights
In the three months ended June 30, 2020:
Online music paying users grew 51.9% year-over-year to 47.1 million, with ARPPU increasing by 8.1% year-over-year. Total revenues were RMB6.93 billion (US$981 million), an increase of 17.5% year-over-year, with online music subscription revenues growing by... More