Tencent Music Enter Gr Q3 Adj EPADS $0.12, Inline, Sales $900.00M Beat $860.29M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tencent Music Entertainment Group (NYSE:TME) reported Q3 adjusted EPS of $0.12, meeting analyst consensus estimates, with sales of $900M surpassing the expected $860.29M. However, this reflects a 13.04% decrease in sales compared to the same period last year.
November 14, 2023 | 9:02 am
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Tencent Music (TME) reported stable Q3 earnings with a slight beat on revenue estimates, but a significant year-over-year decline in sales.
While TME met EPS estimates and exceeded revenue expectations, the year-over-year decline in sales could concern investors about growth prospects. The mixed results may lead to a neutral short-term impact on the stock price as positive and negative factors balance each other out.
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