Tencent Music misses quarterly revenue estimates as social entertainment unit drags

By Yahoo! Finance | Nov 12, 2024 at 04:55 AM EST

Tencent Music Entertainment's quarterly revenue missed estimates due to Beijing's crackdown on online gambling affecting its social entertainment segment. Revenue from social entertainment services fell, but online music revenue rose, driven by increased paying users. The company's Super VIP membership showed strong user adoption.

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