Tencent Music Entertainment Posts Mixed Q4 Results as Rising Competition Weighs By Investing.com

Written by corres2

© Reuters

By Yasin Ebrahim

Investing.com – Tencent Music Entertainment reported Monday mixed fourth quarter results as earnings beat but revenue fell short of the expectations as increased competition and the weaker macro environment dented growth. 

Tencent Music Entertainment (NYSE:) was down more than 2% in after-hours trade.

The online music and audio entertainment platform reported adjusted EPS of RMB0.50, down from RMB0.80 a year earlier, as revenue fell 8.7%, to RMB7.607 billion. That compared with Wall Street estimates for EPS of 0.08 on revenue of $7.609 billion.

Online music mobile monthly active users, or MAUs, fell 1% year-over-year, driven by churn in casual users served amid increased competition. But paying online music paying users reached a record-high 76.2 million, benefitting from expanded sales channels and paying user loyalty, the company said.  

“Amid increasing competition and changing macro environment, social entertainment services MAUs and paying users were lower year-over-year and quarter-over-quarter,” it added. 


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

About the author


Leave a Comment



Confirmed: 43,452,164Deaths: 525,116


Confirmed: 545,030,191Deaths: 6,329,092