(Yicai Global) May 14 -- Tencent Music Entertainment Group, China's largest music streaming firm, may be nearing a ceiling of growth, hinted by its lower-than-expected first-quarter earnings.

Tencent Music, which operates the brands of QQ Music, Kuwo and KuGou, lifted its revenue 39 percent to CNY5.7 billion (USD834.9 million) in the three months, according to its latest earnings report. It boosted its net profit attributable to shareholders 17 percent to CNY987 million (USD143.6 million). The Shenzhen-based company had most of its success stemming from its online karaoke and live streaming services. 

The number of monthly active users of the firm's music services rose nearly 5 percent to 654 million. The related number of paying customers grew 27 percent to 28.4 million.

Editor: Emmi Laine