Tencent Music's adjusted net profit in Q1 2024 is 1.81 billion yuan, a year-on-year increase of 23.9%

According to news from this site on May 13, Tencent Music Hong Kong Exchange announced that its revenue in the first quarter of 2024 was 6.77 billion yuan, compared with 7 billion yuan in the same period last year. Adjusted net profit in the first quarter increased 23.9% year-on-year to 1.81 billion yuan.

This site noticed that Tencent Music’s online music service revenue in the first quarter was 5.01 billion yuan, a year-on-year increase of 43.0%, online music subscription revenue was 3.62 billion yuan, a year-on-year increase of 39.2%, and the number of online music paying users was 113.5 million, a year-on-year increase of 39.2%. An increase of 20.2%, a net increase of 6.8 million from the previous month.

According to the financial report for fiscal year 2023, the board of directors of Tencent Music Entertainment Group approved a dividend of US$0.0685 per ordinary share, or a dividend of US$0.1370 per ADS. , the total cash dividends expected to be paid are approximately $210 million. Holders of common stock and ADSs of record as of the market close on May 31, 2024 are eligible to receive dividends. The expected payment date for holders of common shares is on or about June 21, 2024, and the expected payment date for holders of ADS is on or about June 27, 2024.

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