05:55 AM EDT, 05/13/2024 (MT Newswires) -- Tencent Music Entertainment Group ( TME ) reported Q1 earnings Monday of 1.09 renminbi ($0.15) per diluted American depositary share, up from 0.89 renminbi a year earlier.

Four analysts polled by Capital IQ expected 0.84 renminbi.

Revenue for the quarter ended March 31 was 6.77 billion renminbi, down from 7 billion renminbi a year earlier.

Analysts surveyed by Capital IQ expected 6.57 billion renminbi.

The company adopted an annual cash dividend policy and declared a payout for fiscal 2023 of $0.1370 per ADS, payable around June 27 to holders of record as of May 31.

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