Tencent Music reports Q3 EPS 10c, consensus 12c

Reports Q3 revenue $900M, consensus $875.59M. Cussion Pang, executive chairman of TME, commented, “Our dual-engine content-and-platform strategy continues to pay off. In the third quarter, we reported strong growth in our online music services despite the topline headwinds from the social entertainment business. The accelerated year-over-year subscription revenue growth was supported by expansion in both subscriber base and ARPPU. Our evolving ecosystem and resilient businesses enabled us to deliver a group-wide margin expansion. These achievements further unlock the value of music and pave the way for our sustainable development in the long run.”