Tencent Music rises as Q3 revenue beats estimates

Tencent Music Entertainment

12/11/2025 10:41

** U.S.-listed shares of Tencent Music Entertainment 1698.HK, TME.N rise about 3.23% to $21.43 in premarket trading

** Co says Q3 revenue jumped 20.6% to 8.46 billion yuan ($1.19 billion), beating analysts' estimates of 8.22 billion yuan

** Growth driven by strong online music services; subscription revenue up 17.2% to 4.50 billion yuan

** Average Revenue Per Paying User (ARPPU) climbed to 11.9 yuan from 10.8 yuan a year ago

** 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 82.82% YTD, as of last close

($1 = 7.1177 yuan)

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))