(Reuters) – Tencent Music Entertainment Corp reported a 5.6% fall in quarterly revenue on Tuesday, as weak advertising and paying user growth hurt the Chinese audio streaming platform.
Total revenue fell to $7.37 billion yuan ($7.37 billion) in the quarter ended Sept. 30 from $7.81 billion yuan a year earlier, compared with analysts’ average estimate of $7.07 billion, according to Refinitiv data.
($1 = $1.0000)
(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)
