Tencent Music Entertainment Group reported its third-quarter financial results, revealing a 6.8% year-over-year increase in revenue to CNY7 billion (USD971 million), missing analysts' estimates by CNY20 million. The company's growth was propelled by a 15.5% rise in paying users, while profit surged 35% to CNY1.9 billion (USD268 million). Non-GAAP earnings per American Depositary Share (EPADS) were $0.16, in line with expectations. Despite the gains, the social entertainment segment continued to decline, with revenue down 23.9%, leading to a drop in the company's share price by 7.7%. Tencent Music's stock [HKG: 1698] fell 7.7% as of 10:30 a.m. The decline in social entertainment revenue has impacted the company's overall performance, even as streaming services show robust growth.