Tencent Music beats quarterly revenue estimates

Tencent Music Entertainment

13/05/2024 10:03

May 13 (Reuters) - China's Tencent Music Entertainment
Group  1698.HK   TME.N  beat first-quarter revenue estimates on
Monday, thanks to steady growth in paid subscriptions and
advertising services on its Spotify-like music streaming
platform.
    The audio entertainment platform reported revenue of 6.77
billion yuan ($935.88 million) in the first quarter. Analysts
were expecting revenue of 6.63 billion yuan, according to LSEG
data. 

($1 = 7.2338 Chinese yuan renminbi)

 (Reporting by Priyanka.G in Bengaluru; Editing by Sonia Cheema)
 ((Priyanka.G@thomsonreuters.com;))