Tencent Music (TME) Shares Fall 2% on Q4 Revenue Miss, Company to Pursue Hong Kong Listing
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Tencent Music Entertainment Group Announces Fourth Quarter and Full Year 2021 Unaudited Financial Results
March 21, 2022 4:05 PM EDTSHENZHEN, China, March 21, 2022 /PRNewswire/ --Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
Financial and Operational Highlights
In the three months ended December 31, 2021:
Total revenues were RMB7.61 billion (US$1.19 billion), representing a decrease of 8.7% year-over-year. Online music service revenues grew by 4.3% year-over-year. Revenues from music subscriptions were RMB1.95 billion (US$306 million), representing 23.5%... More