2025 March, 18, 09:43:14 AM

Tencent Music Beats Q4, Announces Dividend & Buyback

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Tencent Music Surpasses Q4 Estimates with Dividend and Buyback Announcement

Tencent Music Entertainment Group (NYSE:TME) has reported impressive fourth-quarter earnings, exceeding analyst expectations thanks to strong growth in online music services.

Key Highlights of the Earnings Report:

  • Adjusted Earnings Per ADS: RMB1.26 (US$0.17), surpassing the consensus estimate of RMB1.22.
  • Revenue: RMB7.46 billion (US$1.02 billion), an 8.2% year-over-year increase, exceeding the expected RMB7.3 billion.
  • Music Subscription Revenue: Surged 18% year-over-year to RMB4.03 billion (US$552 million).
  • Paying Users: Increased by 13.4% year-over-year to 121 million.
  • Average Revenue Per Paying User (ARPPU): Grew from RMB10.7 to RMB11.1.

Shareholder Value Initiatives:

  • Annual Cash Dividend: Approved for approximately US$273 million for the year ended December 31, 2024.
  • Share Repurchase Program: Authorized up to US$1 billion over 24 months starting in March 2025.

Full Year 2024 Performance:

  • Total Revenues: RMB28.40 billion (US$3.89 billion), a 2.3% year-over-year increase.
  • Music Subscription Revenues: Grew 25.9% year-over-year to RMB15.23 billion (US$2.09 billion).

Market Reaction:

  • Tencent Music’s shares edged up 0.77% following the earnings release, indicating a muted market response.

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Disclaimer: This article was generated with the support of AI and reviewed by an editor.

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