Tencent Music Entertainment Group (NYSE:TME) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Tencent Music Entertainment Group (NYSE:TME) reported Q2 earnings of $0.25 per share, surpassing analyst estimates by $0.01, with revenue increasing 5.8% year-over-year to $1.32 billion. Growth was driven by music-related services and the consolidation of Ximalaya, which added RMB 0.4 billion in revenue. Despite competitive pressures on subscriptions and advertising, the company maintains a strong cash position and is preparing for a new share repurchase program after completing the existing one.