Tencent Music (TME) Tops Q1 EPS by 3c

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Go back to Tencent Music (TME) Tops Q1 EPS by 3c

Tencent Music Entertainment Group Announces First Quarter 2021 Unaudited Financial Results

May 17, 2021 4:05 PM EDT

SHENZHEN, China, May 17, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2021.

Financial and Operational Highlights

In the three months ended March 31, 2021:

Online music paying users reached 60.9 million, increasing by 42.6% year-over-year. On a sequential basis, the number of online music paying users grew by 4.9 million, the largest quarterly net increase since 2016. Paying ratio was 9.9%, up from 8.0%... More