Tencent Music
TME
$18.58 -0.75%
Exchange: NYSE | Sector: Communication Services | Industry: Internet Content Information
Q3 2024
Published: Sep 30, 2024

Earnings Highlights

  • Revenue of $7.02B up 6.8% year-over-year
  • EPS of $1.01 increased by 35.1% from previous year
  • Gross margin of 42.6%
  • Net income of 1.58B
  • ""Our effective monetization of online music services and operational efficiency in management continue to drive strong financial results in the third quarter of 2024." - Shirley Hu, CFO." - Shirley Hu
TME
Tencent Music Entertainment Group

Executive Summary

In Q3 2024, Tencent Music Entertainment Group (TME) demonstrated solid financial results, with total revenue of RMB 7 billion, reflecting a 7% increase year-over-year. The company's net income was RMB 1.9 billion, marking a substantial 29% rise from the prior year. TME management highlighted its successful execution of the 'five-star approach' for growth, with online music services revenue surging by 20%. The company effectively integrated across its platforms, driving increased user engagement and enhancing subscription revenue significantly.

Key Performance Indicators

Revenue
Increasing
7.02B
QoQ: -2.03% | YoY: 6.79%
Gross Profit
Increasing
2.99B
42.64% margin
QoQ: -0.63% | YoY: 27.71%
Operating Income
Increasing
2.14B
QoQ: -2.46% | YoY: 50.46%
Net Income
Increasing
1.58B
QoQ: -5.89% | YoY: 35.53%
EPS
Increasing
1.00
QoQ: -8.26% | YoY: 35.14%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q3 2024 7,015.00 1.01 +6.8% View
Q2 2024 7,160.00 1.07 -1.7% View
Q1 2024 6,768.00 0.92 -8.9% View
Q4 2023 6,893.00 0.82 -1.6% View
Q3 2023 6,569.00 0.74 -10.8% View