Tencent Music rises more than 2.5% in pre-market, Q1 adjusted net profit increased by 22.8% year-on-year.

Tencent Music rose more than 2.5% in pre-market trading, reaching $14.69. In terms of news, Tencent Music's total revenue for the first quarter was 73.6 billion yuan, an increase of 8.7% year-on-year; adjusted net profit was 22.3 billion yuan, an increase of 22.8% year-on-year. During the period, online music service revenue increased by 15.9% year-on-year to 58 billion yuan, and the number of online music paying users increased by 8.3% year-on-year to 122.9 million.