Movers | Tencent Music drops over 20% after earnings report

SighingCashier · 2026-03-18T03:05:27+00:00

Tencent Music released last year's performance, with profit attributable to shareholders growing 66.41%, yet the stock price plummeted over 20%, dropping to as low as 43.6 yuan at one point. Adjusted profit grew 24.99%, but the market reacted poorly, with the stock price at 44.96 yuan at the time of reporting, and trading volume reaching 130 million yuan.

SighingCashier

2026-03-18 03:05:27

Abstract generation in progress

Tencent Music (01698) fell after earnings, dropping over 20%, with a maximum decline of 23.8%, temporarily hitting a low of HKD 43.6.

As of 9:45 PM, the stock was at HKD 44.96, down 21.5%, with a turnover of HKD 130 million.

Tencent Music announced that for the fiscal year ending December 2022, the attributable net profit to shareholders was RMB 11.056 billion, a year-on-year increase of 66.41%, with earnings per share of RMB 3.6 and a dividend of USD 0.12.

According to non-IFRS standards, adjusted profit was RMB 9.588 billion, up 24.99% year-on-year. Total revenue reached RMB 32.902 billion, an increase of 15.85% year-on-year. Online music service revenue grew 22.92% to RMB 26.726 billion.

For the fourth quarter alone, attributable net profit was RMB 2.203 billion, up 12.57% year-on-year. Adjusted profit was RMB 2.485 billion, an increase of 8.99% year-on-year.

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