Tencent Music Entertainment misses quarterly revenue estimates-May 2024-www.financetom.com

Tencent Music Entertainment misses quarterly revenue estimates

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Tencent Music Entertainment misses quarterly revenue estimates

Nov 12, 2024 1:29 AM

Nov 12 (Reuters) - Tencent Music Entertainment ( TME )

missed quarterly revenue estimates on Tuesday, as Beijing's

crackdown on online gambling continues to impact its social

entertainment segment.

The China-based company's revenue was at 7.02 billion yuan

($970.23 million) in the third quarter, compared with analysts'

estimate of 7.04 billion yuan, according to data compiled by

LSEG.

($1 = 7.2354 Chinese yuan renminbi)

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