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Tencent Music Looks Like a Winner

TheMotleyFool

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The COVID-19 pandemic is crushing stocks globally, since the only apparent way to curb its spread (keeping people away from each other) is pausing economic growth. Yet there's a pocket of growth many investors are overlooking during the downturn: Chinese tech companies that generate most of their revenue from domestic streaming services.

One such company is Tencent Music Entertainment (NYSE: TME), the largest streaming music platform in China. TME isn't dependent on supply chains or consumer spending and it wasn't surprising when its fourth-quarter numbers beat analysts' estimates with accelerating revenue and earnings growth.

Image source: Getty Images.

Source Fool.com

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