Tencent Music beats quarterly revenue estimates

Tencent Music Entertainment

19/03/2024 09:04

March 19 (Reuters) - China's Tencent Music Entertainment
Group  1698.HK   TME.N  beat fourth-quarter revenue estimates on
Tuesday, driven by growth in paid subscription on its
Spotify-like music streaming platform.
    The audio entertainment platform reported revenue of 6.89
billion yuan ($957.02 million) for the fourth quarter. Analysts
on average had expected revenue of 6.71 billion yuan, according
to LSEG data. 
        
  
    ($1 = 7.1994 Chinese yuan renminbi)
  

 (Reporting by Priyanka.G in Bengaluru; Editing by Maju Samuel)
 ((Priyanka.G@thomsonreuters.com;))