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Tencent Music Entertainment beats quarterly revenue estimates.
stock :: 14hrs ago :: source - reuters
By Reuters
The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration/File photo
(Reuters) - Tencent Music Entertainment (1698.HK) beat analysts' expectations for fourth-quarter revenue on Tuesday, backed by the strong growth of streaming services.
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For the three months through December, the company's revenue rose 8.2% from a year earlier to 7.46 billion yuan ($1.03 billion), above analysts' average estimate of 7.30 billion yuan, according to data compiled by LSEG.
($1 = 7.2228 Chinese yuan renminbi)
(Reporting by Kritika Lamba in Bengaluru and Yelin Mo in Beijing)
Reuters report
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