BRIEF: Tencent Music’s profit jumps 43% in second quarter

1698.HK TME.US

Online music platform Tencent Music Entertainment Group (TME.US; 1698.HK) saidon Tuesday that its revenue rose 17.9% year-on-year to 8.44 billion yuan ($1.17 billion) in the second quarter, while its net profit jumped 43.2% to 2.41 billion yuan.

The company’s online music service revenue climbed 26.4% to 6.85 billion yuan, driven by strong growth in music subscription revenue, as well as higher income from advertising, artist merchandise and offline concerts. Revenue from social entertainment services and others fell 8.53% to 1.59 billion yuan. The company’s gross margin improved by 2.4 percentage points to 44.4%.

Its monthly active users for online music services dropped 3.2% year-on-year to 550 million during the quarter, while paying users increased 6.3% to 120 million. Monthly average revenue per paying user rose from 10.7 yuan a year earlier to 11.7 yuan in the latest quarter.

The company’s stock opened 12.8% higher on Wednesday in Hong Kong, closing at HK$101.7 by the midday break, up 15.18%.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here

,
,

Related Articles

RELATED ARTICLES

  1. Tencent Music acquiring Ximalaya, shoring up its weak long-audio flank
    Tencent Music scales audio heights with Ximalaya purchase
    1698.HK TME.US
  2. Hello Group takes its matchmaking skills beyond China
    MOMO.US
  3. BRIEF: Huya reports second quarter of revenue growth
    HUYA.US
  4. BRIEF: Sands China second-quarter profit drops 13%
    1928.HK
  5. BRIEF: TSMC’s profit jumps in first quarter, unaffected by tariff impact
    TSM.US 2330.TW
  6. BRIEF: MGM China’s revenue, profit edge up in second quarter
    2282.HK
  7. After 14 years of losses, Zhihu finds an answer to its profitability question
    2390.HK ZH.US
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Losses continue to widen and debts continue to pile up, Vanke not yet out of the woods

Vanke not out of the woods as losses, debt keep mounting

Despite being taken over by Shenzhen Metro Group and promised full financial support, the developer, while avoiding defaults, reported its loss widened in the first half of 2025 Key Takeaways:…
2202.HK 000002.SHE
Mininglamp makes marketing software

Mininglamp IPO advances with key regulatory approval

China’s securities regulator has registered the leading marketing software maker’s Hong Kong listing, which could raise more than $100 million Key Takeaways: Mininglamp’s Hong Kong IPO has been approved by…