Tencent Music Entertainment Reported Q1 Revenue of $937M, Down by 3.4% YoY, Adj EPADS of $0.15
Portfolio Pulse from Benzinga Newsdesk
Tencent Music Entertainment (TME) reported a Q1 revenue of $937M, marking a 3.4% decrease year-over-year. The adjusted earnings per ADS (American Depositary Share) stood at $0.15.
May 13, 2024 | 9:05 am
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NEGATIVE IMPACT
TME's Q1 earnings report shows a revenue decline of 3.4% YoY to $937M and an adjusted EPADS of $0.15.
The reported decline in revenue is typically viewed negatively by investors, as it indicates a decrease in business activity or market demand for TME's offerings. The adjusted earnings per ADS, while providing a measure of profitability, may not fully offset concerns about declining revenue. Therefore, this news is likely to have a short-term negative impact on TME's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100