Tencent Music Entertainment poses 66.4pc net profit growth to 11.06b yuan

Tencent Music Entertainment (1698) announced its 2025 net profit grew 66.4 percent year on year to 11.06 billion yuan (HK$13.07 billion) as it saw gains in the deemed disposal of an associate in the first quarter of 2025.

The company's board of directors declared a cash dividend of US$0.12 per ordinary share.

Its adjusting net profit grew 25 percent year on year to 9.59 billion yuan.

The company's total revenue increased 15.8 percent to 32.9 billion yuan; its revenue from online music services also rose 22.9 percent to 26.73 billion yuan, but revenue from social entertainment services and others dropped 7.3 percent to 6.18 billion yuan.

Looking ahead, the company will focus more on revenue and profit as its primary performance indicators, given its business model has evolved to advertising and other IP-related offering scale and multi-tiered membership for online music subscriptions.

It said it will discontinue the disclosure of certain quarterly operating metrics starting from next quarter, including online music MAU, paying users, and ARPPU. Instead, it will report the number of total paying users across its music services annually.

Gloria Leung