Reports Q3 revenue $1.19B vs. $1B last year. Reports Q3 MAUs 551M. Reports Q3 paying users 125.7M. Cussion Pang, executive chairman of Tencent Music (TME), commented, “In the third quarter, we delivered another set of solid results, underpinned by the well-rounded performance of our online music business. Our ongoing innovations in content enrichment, services expansion to include more live experiences continued to fuel consistent subscription revenue growth while boosting momentum in non-subscription services, especially in concerts and artist merchandise. Backed by our strong financial position and operational excellence, we are poised to further broaden our music services and create greater value for the entire music industry.”
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TME:
- Notable companies reporting before tomorrow’s open
- TME Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Warner Bros. Discovery upgraded, F5 downgraded: Wall Street’s top analyst calls
- Tencent Music reinstated with a Neutral at BofA
- Hold Rating for Tencent Music Entertainment Group Amidst Premium Valuation and Competitive Challenges