TME-SW (01698) rises 11.38% after Q1 results X
14/05/2025 11:02
(Infocast News)    TME-SW (01698) rose 11.38% to HK$60.7 after it announced its unaudited financial results for the first quarter ended March 31, 2025.

Total revenues were RMB7.36 billion (US$1.01 billion), representing an 8.7% year-over-year increase, primarily due to strong year-over-year growth in revenues from online music services, and partially offset by a decline in revenues from social entertainment services and others.

Revenues from music subscriptions were RMB4.22 billion (US$581 million), representing 16.6% year-over-year growth. The number of paying users increased by 8.3% year-over-year to 122.9 million, up by 1.9 million from the fourth quarter of 2024. Monthly ARPPU grew to RMB11.4 from RMB10.6 in the same period of 2024.

Net profit attributable to equity holders of the Company was RMB4.29 billion (US$591 million), representing 201.8% year-over-year growth. Non-IFRS net profit attributable to equity holders of the Company was RMB2.12 billion (US$293 million), representing 24.6% year-over-year growth. The Company has recognized a gain of RMB2.37 billion (US$327 million) on deemed disposal of an investment under IFRS.

Diluted earnings per ADS was RMB2.77 (US$0.38), up from RMB0.91 in the same period of 2024. Non-IFRS diluted earnings per ADS was RMB1.37 (US$0.19), up from RMB1.09 in the same period of 2024. (WL)

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