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Tencent Music posts $1.32 bn Q2 revenue as Ximalaya integration boosts audio push
China's Tencent Music Entertainment Group reported Q2 revenues of RMB 8.93 billion ($1.32 billion), up 5.8% year-on-year. Music-related services revenues hit $1.12 billion, growing 11% year-on-year. The newly integrated Ximalaya podcast and audiobook platform has begun contributing to the bottom line, strengthening the group's position in the audio streaming segment.
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