智通财经APP获悉，腾讯音乐-SW(01698)涨10%，截至发稿，涨10%，报59.95港元，成交额2548.14万港元。
消息面上，，腾讯音乐公布2025年第一季度业绩，总收入73.6亿元，调整后净利润22.3亿元。其中，在线音乐业务持续高质量增长，第一季度在线音乐服务收入同比增长15.9%至58.0亿元，在线音乐付费用户数同比增长8.3%至1.229亿，单个付费用户月均收入（ARPPU）从2024年同期的10.6元增长至11.4元。
中金指，公司1Q25 Non-IFRS 净利润超我们预期。展望2025年，音乐订阅业务有望实现高质量增长，受付费用户数和ARPPU两者增长共同驱动。看向2Q25，该行预计付费用户数或环增150 万人，ARPPU 或同增8.7%，量价平衡增长。此外，该行认为，长音频内容的深化有望助力公司内容差异化布局，为ARPPU可持续增长提供支撑。
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