Tencent Music Misses Q1 Estimates, Despite 12% Music Service Growth

Tencent Music Entertainment (TME) reported total revenues of $1.15 billion for the first quarter of 2026.

This figure represents a 7.3% year-over-year increase.

Total revenue fell $10 million short of analyst forecasts.

Non-GAAP earnings per share reached $0.19.

This EPS figure missed expectations by $0.02.

Non-IFRS net profit attributable to equity holders reached $330 million.

This profit figure represents 7.0% year-over-year growth.

Music-related services drove revenue growth with a 12.2% increase.