Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

Tencent Music beats Q1 revenue estimates on steady paid subscription, ad growth

A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. REUTERS/David Kirton/File Photo

China’s Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform.