By Kimberly Chin
Tencent Music Entertainment Group /zigman2/quotes/205527956/composite TME +11.17% reported higher net income in the third quarter as revenue rose.
The music streaming-service company said profit rose to 1.02 billion yuan ($143 million) from 964 million yuan a year earlier.
Revenue rose 31% to 6.51 billion yuan ($910 million).
Analysts surveyed by FactSet expected a profit of 907.2 million yuan and 6.37 billion yuan in sales.
Tencent Music reported 35.4 million online-music paying subscribers, up 42% from last year, and 12.2 million social-entertainment paying subscribers, compared with 9.9 million in the third quarter a year earlier.
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