Tencent Music Entertainment's Q3 Profit Balloons 36%

MT Newswires Live

2024/11/12

Tencent Music Entertainment (HKG:1698) recorded a 36% boost in attributable profit for the quarter ended Sept. 30 to 1.58 billion yuan from 1.17 billion yuan a year prior, a Tuesday bourse filing stated.

Earnings per share rose to 0.50 yuan in the three months from 0.37 yuan in the third quarter of 2023.

The online music platform's revenue for the quarter rose by 6.8% to 7.02 billion yuan from 6.57 billion yuan in the year-ago period.

The firm attributed the rise in revenue mainly to year-over-year growth in revenues from online music services.

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