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Sep 30, 2025
Tencent Music Q3 2025 Earnings Report
Tencent Music reported strong third-quarter results with double-digit growth in revenue and net income, driven by online music services and increased user monetization.
Key Takeaways
Tencent Music delivered a robust Q3 2025 performance, highlighted by a 20.6% increase in total revenue and 36.0% growth in net income, powered by online music subscriptions and concert revenue.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Tencent Music aims to expand its online music services, deepen artist partnerships, and grow international concert operations, while investing in immersive user experiences and innovative monetization.
Positive Outlook
- Subscription revenue growth supported by SVIP expansion
- Improved ARPPU through tiered membership and exclusive content
- International expansion of concert business with sold-out tours
- Strong cash position to support growth initiatives
- Enhanced partnerships with global music and gaming companies
Challenges Ahead
- Decline in monthly active users for online music
- Slight year-over-year drop in social entertainment revenue
- Rising marketing and content promotion expenses
- Pressure on margins from increased offline performance costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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