Tencent Music Entertainment More than Halves Q1 Profit

MT Newswires Live

05/12

Tencent Music Entertainment (HKG:1698) recorded an attributable profit of 2.09 billion yuan in the first quarter of 2026, down from 4.29 billion yuan a year prior, according to a Tuesday Hong Kong bourse filing.

Earnings per share slipped to 0.67 yuan from 1.39 yuan in the corresponding period of the previous fiscal year.

Revenue climbed 7.3% to 7.9 billion yuan from 7.36 billion yuan in the year-ago period, mainly due to a higher revenue from music-related services.

The lower profit came about due to the absence of a gain of 2.37 billion yuan on the deemed disposal of an associate in the first quarter of 2025.

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