Tencent Music issued first-quarter earnings: total revenue of 5.74 billion yuan, an increase of 39.4%

    On the morning of May 14th, Beijing time, Tencent Music Entertainment Group released the unaudited financial report for the first quarter ended March 31, 2019.

    In the first quarter of 2019, Tencent's total revenue increased by 39.4% year-on-year to RMB 5.74 billion (US$855 million), and operating profit increased by 22.9% year-on-year to RMB 1.15 billion (US$171 million). Growth of 17.4% to RMB 987 million (US$147 million), non-IFRS (Non-IFRS) attributable to shareholders' net profit increased by 14.9% year-on-year to RMB 12.0 billion (US$179 million), operating cash flow It was RMB 926 million (US$138 million).

    Peng Jiaxin, CEO of Tencent Music Entertainment Group, said: “Our performance in the first quarter of 2019 was steady and strong. Innovative products, diversified content, and technological advancement are driving the healthy development of our overall business.”