NYSE$TME
Tencent Music Entertainment Group-ADR · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Tencent Music grew Q3 revenue 20.6% to RMB 8.46 billion as online music subscriptions and ARPPU gains drove a 36% jump in net profit.
Tencent Music Entertainment reported Q3 2025 total revenue of RMB 8.46 billion ($1.19 billion), up 20.6% year over year, led by a 27.2% increase in online music services revenue to RMB 6.97 billion. Music subscription revenue rose 17.2% to RMB 4.50 billion as monthly ARPPU increased to RMB 11.9 from RMB 10.8 and paying users reached 125.7 million. Net profit attributable to equity holders grew 36.0% to RMB 2.15 billion, with non-IFRS net profit up 32.6% to RMB 2.41 billion.
- Total revenue rose 20.6% to RMB 8.46 billion, with online music services revenue up 27.2% to RMB 6.97 billion.
- Music subscription revenue grew 17.2% to RMB 4.50 billion as monthly ARPPU increased to RMB 11.9.
- Net profit attributable to equity holders increased 36.0% to RMB 2.15 billion; non-IFRS net profit was RMB 2.41 billion.
- Online music paying users reached 125.7 million while MAUs were 551 million.
- Total cash, term deposits and short-term investments stood at RMB 36.08 billion at quarter end.
Headline financials
Revenue & EPS history
Tencent Music · Revenue · Quarterly
¥8.46B
Revenue by segment
Tencent Music · ¥12.8B total across 3 segments · Q2 2025
- Online music services¥6.85B—53.4%
- Music subscriptions¥4.38B—34.2%
- Social entertainment services and others¥1.59B—12.4%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
-0.4%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+3.1%
Avg return
30 days after
55%
16 / 29 earnings
Positive
+18.4%
Q3 2022
Best reaction
-22.0%
Q4 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -22.0% | — | — | |
| Q3 2025 | -8.3% | -8.9% | -12.2% | |
| Q2 2025 | +11.9% | +12.6% | +12.9% | |
| Q1 2025 | +2.6% | +16.0% | +31.3% | |
| Q4 2024 | +15.5% | +7.2% | -5.9% | |
| Q3 2024 | -7.6% | -4.2% | +4.5% | |
| Q2 2024 | -15.2% | -19.8% | -25.7% | |
| Q1 2024 | +9.9% | +15.6% | +7.5% | |
| Q4 2023 | +12.6% | +5.5% | +11.6% | |
| Q3 2023 | +11.0% | +12.7% | +21.4% | |
| Q2 2023 | +4.1% | +6.2% | +2.8% | |
| Q1 2023 | +4.4% | -1.9% | +4.6% | |
| Q4 2022 | -8.7% | -2.5% | +0.6% | |
| Q3 2022 | +18.4% | +25.4% | +72.4% | |
| Q2 2022 | +8.6% | -8.1% | +40.9% | |
| Q1 2022 | -0.2% | -0.7% | +10.7% | |
| Q4 2021 | +0.8% | -2.0% | -14.2% | |
| Q3 2021 | +1.9% | +13.5% | -11.8% | |
| Q2 2021 | -20.2% | -23.9% | -18.6% | |
| Q1 2021 | -2.4% | -0.5% | +0.9% | |
| Q4 2020 | +4.5% | -33.9% | -40.6% | |
| Q3 2020 | +1.3% | +9.1% | +23.1% | |
| Q2 2020 | -3.2% | -10.1% | +2.1% | |
| Q1 2020 | +5.3% | +8.4% | +13.4% | |
| Q4 2019 | -7.9% | -16.7% | -5.0% | |
| Q3 2019 | -5.6% | -9.4% | -13.8% | |
| Q2 2019 | +0.6% | -3.3% | -5.3% | |
| Q1 2019 | -9.5% | -16.5% | -15.1% | |
| Q4 2018 | -12.8% | -11.1% | -4.7% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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