China’s Tencent Music Tops Quarterly Revenue Estimates
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(Reuters) – China’s Tencent Music Entertainment topped third- quarter revenue estimates on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform.
Total revenue of the Tencent Holdings Ltd-controlled company rose to 6.57 billion yuan ($900.94 million) in the third quarter. Analysts were expecting revenue of 6.31 billion yuan, according to LSEG data.
($1 = 7.2924 Chinese yuan renminbi)
(Reporting by Harshita Mary Varghese; Editing by Pooja Desai)
Copyright 2023 Thomson Reuters.
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