FILE PHOTO: Tencent Music Entertainment celebrate the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018.

China's Tencent Music Entertainment Group posted its slowest earnings in a much-anticipated barometer for growth since the company's entry into the music streaming scene, with shares crashing 11% in early trading, Monday.

Tencent's monthly average profit per user from its media entertainment business was up 16% to 130.1 yuan (CNY) ($18.46), it's the weakest advance since the company became publicly-listed in December 2018. Tencent's stocks plunged during after-hours sessions Monday despite quarterly results that beat analysts' projections.

Tencent Music, a subsidiary of Chinese online giant Tencent Holdings, gained 11 cents per share in the first six months, against Wall Street expectations of 8 cents. Tencent Music raked in $855 million in revenue, against projections of $841 million. The media streaming firm's sales soared 31% from the same period last year.

Tencent's shares were down 5.4% during extended sessions and on regular trading late Monday, stocks rallied a fraction to 14.5%, with an adjusted attributable net sales of 5.4% to 1.13 billion yuan (around $165 million).

Although the company's music streaming business attract more clients, its largest profit drivers come from social and entertainment sources - video service 'Kugou Live', the 'WeSing' and the 'Kuwo Live' - where customers can stream live musical shows and concerts.

Paying users were up 31% in online music to a record 31 million, while those in social entertainment segment climbed 16% to 11%.  Operating profit, on the other hand, was up 7% to 1.09 billion yuan (around $157 million).

The online media streaming service operates four of the five highly popular digital music applications in China, with a market reach of over 91%. The company ended the quarter with 31 million new record-paying customers, an increase of 33% from the same period last year.

The company disclosed having 653 million mobile active users per month from its music business, and 238 million active users per month from its social networking service.

Meanwhile, in terms of strategy, for Tencent to give its fan base a steady and consistent listening pleasure, it is establishing a so-called "Internet of Things" alliances with major manufacturers of automobiles, smart audio systems, and smartwatches, to "provide further channels for client acquisition," Chief Strategy Officer Tony Yip said.

As part of (the company's) internationalization strategy, it is currently working to expand its social entertainment business outside of China, as it takes the initial first steps to explore opportunities in other countries for its WeSing platform in South East Asia.