Tencent Music's Q4 Revenue Beats Street View, But Monthly Active Users Fall Over 3%

Tencent Music Entertainment Group (NYSE:TME) shares are trading higher in the premarket session on Tuesday.

The company reported fourth-quarter revenues of $1.02 billion, beating the street view of $1.01 billion. Revenues increased 8.2% year over year, primarily due to strength in online music services, partially offset by a decline in revenues from social entertainment services and others.

China’s online music and audio entertainment platform’s adjusted EPADS of $0.20 (1.47 Chinese yuan) beat the consensus of $0.19.

Revenues from music subscriptions were $552 million, representing 18.0% year-over-year growth.

Net profit attributable to equity holders of the company was $268 million, representing 49.8% year-over-year growth. 

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