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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