Tencent Music dips after Q3 profit misses estimates

Tencent Music Entertainment

12/11/2025 16:28

Updates

** U.S.-listed shares of Tencent Music Entertainment 1698.HK, TME.N give up premarket gains, last down 11.37% to $18.39 as Q3 profit misses estimates

** Co posts net profit of 2.15 billion yuan, missing analyst est. of 2.37 billion yuan, according to estimates compiled by LSEG

     ** Q3 revenue jumped 20.6% to 8.46 billion yuan ($1.19 billion), beating analysts' estimates of 8.22 billion yuan, thanks to strong growth in online music services

** But operating expenses also grew 7.6% to 1.31 billion yuan, higher than the estimate of 1.24 billion

** Twenty-six out of 31 analysts rate stock "buy" or higher, five rate it "hold"; median PT at $28 - data compiled by LSEG

** Stock up 67.40% YTD, including session moves

($1 = 7.1177 yuan)

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))