Tencent Music Entertainment Group (TME)

TME Income Statement

Financials in millions CNY. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	27,516	27,752	28,339	31,244	29,153	25,434
Revenue Growth (YoY)	-4.12%	-2.07%	-9.30%	7.17%	14.62%	33.97%
Cost of Revenue	17,265	17,957	19,566	21,840	19,851	16,761
Gross Profit	10,251	9,795	8,773	9,404	9,302	8,673
Selling, General & Admin	4,925	5,018	5,557	6,687	5,576	4,744
Other Operating Expenses	-218	-230	-516	-553	-362	-78
Operating Expenses	4,707	4,788	5,041	6,134	5,214	4,666
Operating Income	5,544	5,007	3,732	3,270	4,088	4,007
Interest Expense / Income	137	141	108	121	97	64
Other Expense / Income	-826	-879	-587	-297	-620	-602
Pretax Income	6,233	5,745	4,211	3,446	4,611	4,545
Income Tax	1,039	825	534	417	456	563
Net Income	5,194	4,920	3,677	3,029	4,155	3,982
Net Income Growth	23.20%	33.80%	21.39%	-27.10%	4.34%	117.24%
Shares Outstanding (Basic)	5,199	4,714	4,764	5,055	4,681	3,876
Shares Change	10.29%	-1.04%	-5.76%	8.00%	20.76%	-0.65%
EPS (Basic)	3.34	3.16	2.30	1.82	2.50	2.44
EPS (Diluted)	3.30	3.10	2.28	1.80	2.48	2.38
EPS Growth	25.95%	35.96%	26.67%	-27.42%	4.20%	105.17%
Free Cash Flow	-	7,290	7,542	5,211	4,837	6,093
Free Cash Flow Per Share	-	3.09	3.17	2.06	2.07	3.14
Gross Margin	37.25%	35.29%	30.96%	30.10%	31.91%	34.10%
Operating Margin	20.15%	18.04%	13.17%	10.47%	14.02%	15.75%
Profit Margin	18.88%	17.73%	12.98%	9.69%	14.25%	15.66%
Free Cash Flow Margin	-	26.27%	26.61%	16.68%	16.59%	23.96%
Effective Tax Rate	16.67%	14.36%	12.68%	12.10%	9.89%	12.39%
EBITDA	-	5,886	4,319	3,567	4,708	4,609
EBITDA Margin	-	21.21%	15.24%	11.42%	16.15%	18.12%
EBIT	6,370	5,886	4,319	3,567	4,708	4,609
EBIT Margin	23.15%	21.21%	15.24%	11.42%	16.15%	18.12%

Source: Financials are provided by Nasdaq Data Link and sourced from audited reports submitted to the Securities and Exchange Commission (SEC).