Tencent Music beats quarterly revenue estimates

Tencent Music Entertainment (1698) surpassed second-quarter revenue expectations on Tuesday, driven by stronger subscriber growth and rising engagement with long-form audio content such as podcasts and audiobooks.

Its revenue rose 17.9 percent to 8.44 billion yuan (HK$9.21 billion) during the period, compared with analysts' average estimate of 7.96 billion yuan, according to data compiled by LSEG.

Reuters