Quarterly ResultMay 12, 2026, 06:13 AM
Tencent Music Entertainment Q1 Revenue $1.15B, Non-IFRS Net Profit +7.0%
AI Summary
Tencent Music Entertainment Group announced its first quarter 2026 unaudited financial results, reporting a 7.3% year-over-year increase in total revenues to RMB7.90 billion (US$1.15 billion). Non-IFRS net profit attributable to equity holders grew 7.0% year-over-year to RMB2.27 billion (US$330 million). The company highlighted strong growth in music related services, driven by membership and offline performances, and continued investment in premium IP and AI to enhance content and platform resilience. Additionally, a cash dividend of US$0.24 per ADS for 2025 was declared and paid.
Key Highlights
- Total revenues increased 7.3% year-over-year to RMB7.90 billion (US$1.15 billion).
- Non-IFRS net profit attributable to equity holders grew 7.0% year-over-year to RMB2.27 billion (US$330 million).
- Revenues from music related services rose 12.2% year-over-year to RMB6.51 billion (US$944 million).
- Revenues from membership services increased 6.6% year-over-year to RMB4.57 billion (US$662 million).
- Non-IFRS diluted earnings per ADS were RMB1.46 (US$0.21), up from RMB1.37 in Q1 2025.
- Gross margin improved to 44.9% from 44.1% in the same period of 2025.
- Total cash, cash equivalents, term deposits, and short-term investments were RMB41.00 billion (US$5.94 billion).
- Declared a cash dividend of US$0.24 per ADS for 2025, paid in April 2026.