Tencent Music Entertainment Group Q2 2023 Earnings Report

Tencent Music Entertainment Group EPS Results

• Actual EPS: $0.82
• Consensus EPS: $0.88
• Beat/Miss: Missed by -$0.06
• One Year Ago EPS: $0.07

Tencent Music Entertainment Group Revenue Results

• Actual Revenue: $7.29 billion
• Expected Revenue: $7.30 billion
• Beat/Miss: Missed by -$16.05 million
• YoY Revenue Growth: +5.50%

Tencent Music Entertainment Group Announcement Details

• Quarter: Q2 2023
• Date: 8/15/2023
• Time: Before Market Opens

Tencent Music Entertainment Group (NYSE:TME) operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base; and Lazy Audio, an audio platform. In addition, it sells music-related merchandise; and artist-related merchandise, such as branded apparel, posters and art prints, and accessories and integrated and technology-driven music solutions that help IoT device manufacturers build and operate their branded music services on their IoT devices, as well as offers advertising services across its online karaoke platform and online music apps. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.