Tencent Music's Q3 Revenue Tops $1 Billion, But Monthly Active Users Fall 3%, Stock Reacts

Quick Summary:

Tencent Music Entertainment Group (NYSE:TME) reported a fiscal third-quarter 2024 revenue growth of 6.8% year-over-year to $1.00 billion (7.02 billion Chinese yuan), beating the analyst consensus estimate of $980.86 million. 

Growth in revenues from online music services was partially offset by a decline in revenues from social entertainment services and others.

China’s online music and audio entertainment platform’s adjusted EPADS of $0.16 (1.16 Chinese yuan) missed the analyst consensus estimate of $0.17.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChina

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Published On: 2024-11-12 @ 15:57:49 (22 hours ago)

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