Tencent Music Entertainment Group's stock surged 5.01% in pre-market trading following the release of its first-quarter 2026 financial results.
The company reported non-IFRS earnings of RMB 1.46 per diluted American depositary share, up from RMB 1.37 a year earlier and exceeding the FactSet consensus estimate of RMB 1.43. Revenue for the quarter reached RMB 7.9 billion, representing a 7.3% year-over-year increase and also topping analyst expectations.
Strong growth in music-related services, particularly non-membership services which jumped 28%, along with improved adjusted EBITDA and continued expansion of premium content and membership offerings, fueled investor confidence and drove the share price higher ahead of the market open.