May 13, 2019 / 8:41 PM / 13 days ago

Tencent Music quarterly revenue rises 39%

May 13 (Reuters) - China’s Tencent Music Entertainment Group reported a 39% increase in quarterly revenue on Monday, as more users paid for its music streaming services.

The company, controlled by Chinese tech giant Tencent Holdings Ltd, reported net income of 986 million yuan ($143.39 million) in the first quarter ended March 31.

Tencent Music said revenue jumped 39% to 5.74 billion yuan ($834.73 million). ($1 = 6.8765 Chinese yuan renminbi) (Reporting by Akanksha Rana in Bengaluru; Editing by Anil D’Silva)

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