Tencent Music Entertainment misses quarterly revenue estimates

Tencent Music Entertainment

12/11/2024 09:02

Nov 12 (Reuters) - Tencent Music Entertainment  1698.HK 
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)

 (Reporting by Harshita Mary Varghese in Bengaluru and Yelin Mo
in Beijing; Editing by Shilpi Majumdar)
 ((HarshitaMary.Varghese@thomsonreuters.com;))