Tencent Music rises on upbeat quarterly revenue
ReutersMay 13, 2025 9:48 AM
** 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
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