On May 13th, Tencent Music announced on the Hong Kong Stock Exchange that its revenue for the first quarter of 2024 was 6.77 billion yuan, a year-on-year decrease of 3.4%; Mainly due to a decrease in revenue from social entertainment and other services, partially offset by strong growth in revenue from online music services.
In the first quarter, the net profit attributable to equity holders of non International Financial Reporting Standards companies was RMB 1.7 billion (USD 236 million), a year-on-year increase of 20.8%. The diluted profit per American depositary share is 0.91 yuan (0.13 US dollars), compared to 0.73 yuan in the same period of 2023.