Tencent Music Reports Q1 Miss, Revenues Down 15.1%
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Tencent Music Entertainment Group Announces First Quarter 2022 Unaudited Financial Results
May 16, 2022 4:05 PM EDTSHENZHEN, China, May 16, 2022 /PRNewswire/ --Â 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 first quarter ended March 31, 2022.
Financial and Operational Highlights
In the three months ended March 31, 2022:
Net profit of the Company was RMB649 million (US$102 million). Non-IFRS net profit of the Company[1] was RMB939 million (US$148 million), representing a 7.6% increase on a sequential basis.Total revenues were RMB6.64 billion (US$1.05... More