Tencent Music Entertainment Group Reports Climb In Q2 Bottom Line

(RTTNews) - Tencent Music Entertainment Group (TME) reported earnings for its second quarter that Increases, from the same period last year

The company's bottom line totaled RMB2.409 billion, or RMB0.78 per share. This compares with RMB1.682 billion, or RMB0.54 per share, last year.

Excluding items, Tencent Music Entertainment Group reported adjusted earnings of RMB2.574 billion or RMB0.83 per share for the period.

The company's revenue for the period rose 17.9% to RMB8.442 billion from RMB7.160 billion last year.

Tencent Music Entertainment Group earnings at a glance (GAAP) :

-Earnings: RMB2.409 Bln. vs. RMB1.682 Bln. last year. -EPS: RMB0.78 vs. RMB0.54 last year. -Revenue: RMB8.442 Bln vs. RMB7.160 Bln last year.

Net profit per ADS moved up to RMB 1.55 from RMB 1.07 per ADS in the same period last year. Excluding items, income per ADS stood at RMB 1.66 as against RMB 1.19 per ADS a year ago.

Cussion Pang, Executive Chairman of TME, said: "We delivered high-quality growth in the second quarter, achieving solid year-over-year increases in both revenue and profitability. While our music subscription business remained a core growth driver, our expanding suite of music-related services—including advertising, concerts, and artist merchandise-showed impressive momentum. As we continue to scale our platform, we are focused on building a vibrant, one-stop music service destination that empowers content creators and reshapes connections with music lovers in meaningful ways."

TME was up by 2.62% at $23.30 in the pre-market trade on the New York Stock Exchange.