Tencent Music Entertainment Non-GAAP EPADS of $0.13 in-line, revenue of $1.08B beats by $20M

Tencent Music Entertainment press release (NYSE:TME): Q4 Non-GAAP EPADS of $0.13 in-line.
Revenue of $1.08B (-2.4% Y/Y) beats by $20M.
Gross margin for the fourth quarter of 2022 increased by 4.2% to 33.0% from 28.8% in the same period of 2021.
Total cash, cash equivalents, term deposits and short-term investments as of December 31, 2022 were $3.97B.
"Looking ahead into 2023, as we are repositioning ourselves to better capture future growth areas, we currently expect our quarterly revenues from online music services will exceed those from social entertainment services at some point within this year. Meanwhile, with our relentless focus on executing our growth strategies and operating efficiencies, we are confident to achieve year-over-year growth in total revenues and profitability as well as continuous improvement in user quality in 2023 while fueling the thriving music industry."