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Tencent Music's revenue in the second quarter of 2023 reached 7.29 billion yuan, and its adjusted net profit increased by 48.6% year-on-year
Tencent Music's revenue in the second quarter of 2023 reached 7.29 billion yuan, and its adjusted net profit increased by 48.6% year-on-year
Tencent Music Entertainment Group today announced its unaudited financial results for the second quarter ended June 30, 2023
In the second quarter of 2023, Tencent Music Entertainment Group’s total revenue was RMB 7.29 billion ( US$1.01 billion), a year-on-year increase of 5.5%; net profit attributable to equity holders of non-IFRS companies was RMB 1.53 billion (US$211 million), a year-on-year increase of 48.6%.
Revenue from online music services increased by 47.6% year-on-year to 4.25 billion yuan (US$586 million), accounting for 58.3% of total revenue; online music subscription revenue increased by 32.2% year-on-year to 2.89 billion yuan ($3.99 billion)In addition, Tencent Music (Note on this site: QQ Music, Kuwo Music, Kugou Music, etc.)paid users reached 99.4 million, a year-on-year increase of 20.2%, and a quarter-on-quarter increase of 5 million.
officials are still confident that net profit will achieve year-on-year growth
in 2023, driven by the continued strong performance of online music services.The external jump links (including but not limited to hyperlinks, QR codes, passwords, etc.) contained in all articles on this site are intended to provide more information and save selection time. The results are for reference only
The above is the detailed content of Tencent Music's revenue in the second quarter of 2023 reached 7.29 billion yuan, and its adjusted net profit increased by 48.6% year-on-year. For more information, please follow other related articles on the PHP Chinese website!
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