China's Tencent Music beats revenue estimates as paying users surge

China's Tencent Music beats revenue estimates as paying users surge

FILE PHOTO: WeChat mascots are displayed inside Tencent office at the TIT Creativity Industry Zone in Guangzhou, China May 9, 2017. REUTERS/Bobby Yip/File Photo

China’s Tencent Music Entertainment Group beat Wall Street estimates for fourth-quarter revenue on Monday, as the music streaming service added more paying users, sending its shares up 3% in U.S. extended trading.

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