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Tencent Music Entertainment Group Class A ( (HK:1698) ) just unveiled an announcement.
Tencent Music Entertainment Group reported its unaudited financial results for the first quarter of 2025, showing a total revenue of RMB7.36 billion, an 8.7% increase from the previous year. This growth was driven by a 16.6% rise in music subscription revenues, despite a decline in social entertainment services. The company’s net profit saw a significant increase of 201.8% year-over-year, attributed to a gain from the deemed disposal of an investment. The number of paying users rose to 122.9 million, and the company’s cash reserves stood at RMB37.67 billion as of March 31, 2025.
The most recent analyst rating on (HK:1698) stock is a Buy with a HK$70.00 price target. To see the full list of analyst forecasts on Tencent Music Entertainment Group Class A stock, see the HK:1698 Stock Forecast page.
More about Tencent Music Entertainment Group Class A
Tencent Music Entertainment Group is a leading online music and audio entertainment platform in China, offering a range of services including music streaming and social entertainment. The company is listed on both the New York Stock Exchange and the Hong Kong Stock Exchange.
Average Trading Volume: 581,676
Technical Sentiment Signal: Buy
Current Market Cap: HK$169.8B
For a thorough assessment of 1698 stock, go to TipRanks’ Stock Analysis page.