Tencent Music Entertainment Group Announces Fourth Quarter and Full-Year 2022 Unaudited Financial Results
SHENZHEN, China, March 21, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.
- SHENZHEN, China, March 21, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.
- Revenues from online music services other than subscriptions for the fourth quarter of 2022 increased by 29.8% year-over-year and by 2.3% quarter-over-quarter to RMB1.21 billion (US$175 million).
- Revenues from social entertainment services and others for the fourth quarter of 2022 decreased by 18.2% year-over-year to RMB3.87 billion (US$561 million).
- Cost of revenues for the fourth quarter of 2022 decreased by 8.1% year-over-year to RMB4.98 billion (US$722 million).