(Boursier.com) — Tencent Music Entertainment, the leading Chinese online music and audio entertainment platform, reported net profit attributable to shareholders of 1.15 billion yuan for its fourth quarter ended December 2022, more than doubling year-on-year, as well as a adjusted profit of 1.44 billion yuan, up 73%. Total revenue was 7.43 billion yuan, or about $1.08 billion, which exceeded market expectations. Diluted earnings per ADS were 11 cents per share, while adjusted EPS was 13 cents. The consensus was precisely 13 cents of quarterly adjusted EPS for 1.06 billion dollars in revenue. In the year ended, revenue reached 28.34 billion yuan or $4.11 billion, while net profit attributable to shareholders reached 3.68 billion yuan or $533 million.
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