AdvertisingAdvertising continued to lead growth with a 54% YoY segment revenue growth vs 41% of consensus, driven by increased adoption of ad-supported free-listening and sponsored ads.
EarningsNon-IFRS net income grew by 21% YoY to RMB1.70bn, 7% ahead of consensus estimate, primarily attributable to the solid GPM expansion and effective control in opex.
Subscriber GrowthPaying user net adds were particularly strong at a record-high of 6.8m in the quarter, backed by improving adoption from consumers, as well as AI-powered user targeting.