Tencent Music rises on upbeat quarterly revenue

Tencent Music Entertainment

13/05/2025 10:48

** Tencent Music's U.S.-listed shares 1698.HK, TME.N rise about 1.8% to $14.60 in premarket trading

** Company reports first quarter revenue increase of 8.7% to 7.36 billion yuan, beating analysts' estimates of 7.27 billion yuan, according to data compiled by LSEG

** TME is benefiting from rising subscriptions for its online music services, especially for its Super VIP membership, which combines long-form audio content, online karaoke services and high-quality sound

** Revenue from music subscriptions grew 16.6% to 4.22 billion yuan ($586.1 million), while paying users increased by 8.3% to 122.9 million

** Up to last close, stock had risen 26.3% YTD

 (Reporting by Kritika Lamba in Bengaluru)

 ((Kritika.Lamba@thomsonreuters.com))