TME - Spotify Rival Tencent Music Clocks Q3 Revenue Decline But Online Music Paying Users Grow 21% | Benzinga
Tencent Music Entertainment Group (NYSE: TME) reported a third-quarter revenue decline of 10.8% year-over-year to $900 million, beating the consensus of $875.6 million.
China's leading online music and audio entertainment platform's adjusted EPADS of $0.12 was in line with the consensus.
Key Metrics: The Q3 Monthly active users (MAUs) for online music declined by 4.2% Y/Y to 594 million. Mobile MAUs for social entertainment decreased by 16.8% Y/Y to 129 ...