Tencent Music Entertainment Group (TME) income statement

NYSE · Communication Services · Internet Content & Information · 5,690 employees · CEO Zhu Liang

Price: $9.03
Market cap: $13.4B
Enterprise value: CN¥80.1B Data as of 2026-11-14
Last report: Q2 '26 filed 2026-09-01
Next report: 2026-11-17

Tencent Music Entertainment Group (TME) reported revenue of CN¥8.93B for Q2 '26 (+5.8% year on year), operating income of CN¥3.04B (34.0% of revenue) and net income of CN¥2.47B. Over the last four quarters revenue was CN¥33B.

Income statement

Income statement	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Revenue	CN¥6.57B	CN¥6.89B	CN¥6.77B	CN¥7.16B	CN¥7.02B	CN¥7.46B	CN¥7.36B	CN¥8.44B	CN¥8.46B	CN¥7.74B	CN¥7.85B	CN¥8.93B
Cost of revenue	CN¥4.23B	CN¥4.25B	CN¥4B	CN¥4.15B	CN¥4.02B	CN¥4.21B	CN¥4.11B	CN¥4.69B	CN¥4.78B	CN¥176M	CN¥4.32B	CN¥4.98B
Gross profit	CN¥2.34B	CN¥2.64B	CN¥2.77B	CN¥3.01B	CN¥2.99B	CN¥3.25B	CN¥3.24B	CN¥3.75B	CN¥3.68B	CN¥7.57B	CN¥3.52B	CN¥3.95B
Research & development	CN¥0	CN¥2.53B	CN¥0	CN¥0	CN¥0	CN¥2.28B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Sales & marketing	CN¥219M	CN¥255M	CN¥187M	CN¥210M	CN¥220M	CN¥248M	CN¥199M	CN¥216M	CN¥260M	CN¥266M	CN¥271M	CN¥236M
General & administrative	CN¥1.05B	CN¥1.01B	CN¥949M	CN¥938M	CN¥998M	CN¥926M	CN¥944M	CN¥940M	CN¥1.05B	-CN¥1.34B	CN¥940M	CN¥1.06B
Other operating expenses	-CN¥351M	-CN¥2.86B	-CN¥324M	-CN¥336M	-CN¥371M	-CN¥2.61B	-CN¥2.74B	-CN¥385M	-CN¥339M	CN¥6.02B	-CN¥7.32M	-CN¥381M
Operating expenses	CN¥917M	CN¥927M	CN¥812M	CN¥812M	CN¥847M	CN¥844M	-CN¥1.59B	CN¥771M	CN¥972M	CN¥4.95B	CN¥1.2B	CN¥914M
Operating income	CN¥1.43B	CN¥1.71B	CN¥1.96B	CN¥2.2B	CN¥2.14B	CN¥2.41B	CN¥4.84B	CN¥2.98B	CN¥2.71B	CN¥2.62B	CN¥2.32B	CN¥3.04B
Interest income	CN¥273M	CN¥277M	CN¥278M	CN¥304M	CN¥299M	CN¥315M	CN¥297M	CN¥254M	CN¥34.2M	CN¥440M	CN¥245M	CN¥224M
Interest expense	CN¥35M	CN¥13M	CN¥30M	CN¥26M	CN¥97M	-CN¥29M	CN¥25M	CN¥12M	CN¥4.47M	CN¥84M	CN¥45.7M	CN¥0
Other non-operating income (gains on investments, FX ...)	CN¥273M	CN¥1.17B	CN¥278M	CN¥304M	CN¥299M	CN¥259M	CN¥2.67B	-CN¥16M	CN¥245M	-CN¥2.67B	-CN¥303M	CN¥229M
Total non-operating income	CN¥14M	-CN¥10M	-CN¥48M	CN¥28M	-CN¥68M	CN¥90M	-CN¥2M	CN¥4M	-CN¥21M	-CN¥208M	CN¥257M	CN¥32M
Income before tax	CN¥1.44B	CN¥1.7B	CN¥1.91B	CN¥2.23B	CN¥2.08B	CN¥2.5B	CN¥4.83B	CN¥2.98B	CN¥2.69B	CN¥2.41B	CN¥2.58B	CN¥3.07B
Income tax	CN¥176M	CN¥295M	CN¥381M	CN¥432M	CN¥367M	CN¥423M	CN¥446M	CN¥515M	CN¥477M	CN¥434M	CN¥454M	CN¥514M
Net income	CN¥1.17B	CN¥1.31B	CN¥1.42B	CN¥1.68B	CN¥1.58B	CN¥1.96B	CN¥4.29B	CN¥2.41B	CN¥2.15B	CN¥1.9B	CN¥2.08B	CN¥2.47B
EPS (basic)	CN¥0.74	CN¥0.84	CN¥0.92	CN¥1.10	CN¥1.00	CN¥1.26	CN¥2.80	CN¥1.58	CN¥1.38	CN¥1.22	CN¥1.36	CN¥1.60
EPS (diluted)	CN¥0.74	CN¥0.84	CN¥0.92	CN¥1.08	CN¥1.00	CN¥1.26	CN¥2.78	CN¥1.56	CN¥1.38	CN¥1.20	CN¥1.34	CN¥1.58
Shares (basic, weighted)	1.57B	1.57B	1.54B	1.54B	1.57B	1.55B	1.53B	1.53B	1.56B	1.53B	1.54B	1.54B
Shares (diluted, weighted)	1.59B	1.57B	1.56B	1.57B	1.57B	1.56B	1.55B	1.55B	1.56B	1.55B	1.56B	1.56B
Depreciation & amortization	CN¥102M	CN¥447M	CN¥118M	CN¥103M	CN¥109M	CN¥111M	CN¥105M	CN¥88.7M	CN¥292M	CN¥1.07B	CN¥88.7M	CN¥424M
EBITDA	CN¥1.25B	CN¥994M	CN¥1.8B	CN¥2B	CN¥1.95B	CN¥2.26B	CN¥2.27B	CN¥3.08B	CN¥2.76B	CN¥6.36B	CN¥2.71B	CN¥3.23B

Income statement	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	CN¥4.36B	CN¥11B	CN¥19B	CN¥25.4B	CN¥29.2B	CN¥31.2B	CN¥28.3B	CN¥27.8B	CN¥28.4B	CN¥32.9B
Cost of revenue	CN¥3.13B	CN¥7.17B	CN¥11.7B	CN¥16.8B	CN¥19.9B	CN¥21.8B	CN¥19.6B	CN¥18B	CN¥16.4B	CN¥18.4B
Gross profit	CN¥1.23B	CN¥3.81B	CN¥7.28B	CN¥8.67B	CN¥9.3B	CN¥9.4B	CN¥8.77B	CN¥9.8B	CN¥12B	CN¥14.5B
Research & development	CN¥449M	CN¥797M	CN¥937M	CN¥1.16B	CN¥0	CN¥0	CN¥2.58B	CN¥2.53B	CN¥0	CN¥2.32B
Sales & marketing	CN¥365M	CN¥913M	CN¥1.71B	CN¥2.04B	CN¥2.48B	CN¥2.68B	CN¥1.14B	CN¥897M	CN¥865M	CN¥941M
General & administrative	CN¥783M	CN¥1.52B	CN¥2.26B	CN¥2.7B	CN¥3.1B	CN¥4.01B	CN¥4.41B	CN¥4.12B	CN¥3.81B	CN¥1.6B
Other operating expenses	CN¥1M	CN¥6M	-CN¥1.58B	-CN¥1.85B	-CN¥984M	-CN¥1.08B	-CN¥3.81B	-CN¥3.81B	-CN¥1.36B	-CN¥59M
Operating expenses	CN¥1.14B	CN¥2.4B	CN¥3.97B	CN¥4.05B	CN¥4.59B	CN¥5.6B	CN¥4.33B	CN¥3.74B	CN¥3.32B	CN¥4.8B
Operating income	CN¥103M	CN¥1.59B	CN¥2.04B	CN¥4.62B	CN¥4.71B	CN¥3.8B	CN¥4.44B	CN¥6.06B	CN¥8.71B	CN¥9.74B
Interest income	CN¥32M	CN¥93M	CN¥282M	CN¥615M	CN¥622M	CN¥530M	CN¥711M	CN¥1.05B	CN¥1.2B	CN¥1.05B
Interest expense	CN¥0	CN¥0	CN¥35M	CN¥64M	CN¥97M	CN¥121M	CN¥115M	CN¥124M	CN¥124M	CN¥122M
Other non-operating income (gains on investments, FX ...)	CN¥1M	-CN¥185M	CN¥1M	CN¥535M	-CN¥21M	CN¥48M	-CN¥45M	CN¥1.06B	-CN¥126M	-CN¥3.66B
Total non-operating income	CN¥20M	CN¥185M	-CN¥36M	-CN¥82M	-CN¥78M	-CN¥168M	-CN¥70M	-CN¥14M	CN¥2M	CN¥3.54B
Income before tax	CN¥114M	CN¥1.6B	CN¥2B	CN¥4.54B	CN¥4.63B	CN¥3.63B	CN¥4.37B	CN¥6.05B	CN¥8.71B	CN¥13.3B
Income tax	CN¥29M	CN¥278M	CN¥171M	CN¥563M	CN¥456M	CN¥417M	CN¥534M	CN¥825M	CN¥1.6B	CN¥1.92B
Net income	CN¥82M	CN¥1.33B	CN¥1.83B	CN¥3.98B	CN¥4.16B	CN¥3.03B	CN¥3.68B	CN¥4.92B	CN¥6.64B	CN¥11.1B
EPS (basic)	CN¥0.05	CN¥0.82	CN¥1.19	CN¥2.44	CN¥2.50	CN¥1.82	CN¥2.30	CN¥3.16	CN¥4.30	CN¥7.00
EPS (diluted)	CN¥0.05	CN¥0.81	CN¥1.16	CN¥2.38	CN¥2.48	CN¥1.80	CN¥2.28	CN¥3.10	CN¥4.24	CN¥6.92
Shares (basic, weighted)	1.62B	1.62B	1.54B	1.64B	1.66B	1.66B	1.6B	1.58B	1.57B	1.53B
Shares (diluted, weighted)	1.64B	1.64B	1.58B	1.67B	1.68B	1.68B	1.62B	1.58B	1.57B	1.55B
Depreciation & amortization	CN¥236M	CN¥379M	CN¥369M	CN¥583M	CN¥824M	CN¥1B	CN¥1.16B	CN¥1B	CN¥978M	CN¥1.38B
EBITDA	CN¥329M	CN¥1.98B	CN¥2.41B	CN¥4.67B	CN¥5.56B	CN¥4.75B	CN¥5.65B	CN¥6B	CN¥9.81B	CN¥14.8B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-14 · Amounts in CNY as reported; price and market cap in USD.