(Reuters) – China’s Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday, driven by growth in paid subscription on its Spotify-like music streaming platform.
The audio entertainment platform reported revenue of 6.89 billion yuan ($957.02 million) for the fourth quarter. Analysts on average had expected revenue of 6.71 billion yuan, according to LSEG data.
($1 = 7.1994 Chinese yuan renminbi)
(Reporting by Priyanka.G in Bengaluru; Editing by Maju Samuel)
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