Core Insights - Tencent Music Entertainment Group reported a total revenue of RMB 8.46 billion for Q3 2025, representing a year-on-year growth of 20.6%, primarily driven by strong growth in online music service revenue [1] - The net profit attributable to equity holders was RMB 2.15 billion, up 36.0% year-on-year, while the non-IFRS net profit attributable to equity holders was RMB 2.41 billion, reflecting a 32.6% increase [1] - The diluted earnings per American Depositary Share (ADS) were RMB 1.38, an increase from RMB 1.01 in the same period of 2024 [1] Revenue Breakdown - Online music service revenue grew by 27.2% year-on-year to RMB 6.97 billion [1] - Online music subscription revenue increased by 17.2% year-on-year to RMB 4.50 billion [1] - Average revenue per paying user per month rose from RMB 10.8 in 2024 to RMB 11.9 [1] Financial Position - As of September 30, 2025, the total balance of cash, cash equivalents, time deposits, and short-term investments was RMB 36.08 billion [1] Management Commentary - The Executive Chairman highlighted the solid performance in the online music business, attributing the growth to continuous innovation and expansion into live experiences, which also boosted non-subscription services [2] - The CEO noted the thriving platform ecosystem and emphasized the importance of user insights in creating personalized services, which enhanced user engagement and increased the penetration of super memberships [2]
腾讯音乐─SW(01698.HK)第三季度营收84.6亿元，调整后净利润24.1亿元，在线音乐服务收入同比强劲增长