Tencent Music Entertainment (TCMEF) Operating Expenses (2017 - 2026)
Tencent Music Entertainment's (TCMEF) quarterly Operating Expenses came in at -$191.0 million in Q2 2026, down 18.63% year-over-year from -$234.7 million in Q2 2025, and down 8.52% quarter-over-quarter from -$176.0 million in Q1 2026.
Analysis
Tencent Music Entertainment (TCMEF) Operating Expenses (2017 - 2026) Analysis & Trends
Tencent Music Entertainment has disclosed Operating Expenses across 10 years of filings, most recently posting -$191.0 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 18.63% year-over-year to -$191.0 million; the TTM figure through Jun 2026 stood at -$729.0 million (down 12.16% YoY), while the FY2025 annual figure was -$695.0 million, down 8.42% from the prior year.
- Operating Expenses came in at -$191.0 million for Q2 2026 at Tencent Music Entertainment, down from -$176.0 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of -$157.0 million in Q1 2024 to a low of -$212.0 million in Q1 2022.
- Average Operating Expenses over 5 years is -$178.9 million, with a median of -$177.0 million recorded in 2023.
- Year-over-year, Operating Expenses jumped 30.88% in 2022 and decreased 18.63% in 2026.
- Over 5 years, Operating Expenses stood at -$197.0 million in 2022, then grew by 9.64% to -$178.0 million in 2023, then advanced by 9.55% to -$161.0 million in 2024, then dropped by 10.56% to -$178.0 million in 2025, then retreated by 7.3% to -$191.0 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were -$191.0 million in Q2 2026, -$176.0 million in Q1 2026, and -$178.0 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 320.63 Bn | 311.50 Bn | 6.52 Bn | 1.51 Bn |
| 2 | Spotify Technology | 109.40 Bn | 98.49 Bn | 1.86 Bn | 640.46 Mn |
| 3 | Tencent Music Entertainment | 7.00 Bn | 3.91 Bn | 582.00 Mn | -191.00 Mn |
| 4 | Huya | 478.05 Mn | 117.79 Mn | 37.58 Mn | -39.77 Mn |
| 5 | iQIYI | 408.77 Mn | -62.13 Mn | 152.37 Mn | -938.70 Mn |
| 6 | FuboTV | 315.64 Mn | -136.77 Mn | 399.10 Mn | 344.01 Mn |
| 7 | Kaltura | 219.16 Mn | 187.86 Mn | 34.54 Mn | 35.31 Mn |
| 8 | CuriosityStream | 154.78 Mn | 106.39 Mn | 16.93 Mn | 14.07 Mn |
| 9 | LiveOne | 53.11 Mn | 44.45 Mn | 3.94 Mn | 23.03 Mn |
| 10 | Cineverse | 46.92 Mn | 42.60 Mn | 10.66 Mn | 35.72 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -191.00 Mn |
| Mar 31, 2026 | -176.00 Mn |
| Dec 31, 2025 | -178.00 Mn |
| Sep 30, 2025 | -184.00 Mn |
| Jun 30, 2025 | -161.00 Mn |
| Mar 31, 2025 | -158.00 Mn |
| Dec 31, 2024 | -161.00 Mn |
| Sep 30, 2024 | -169.95 Mn |
| Jun 30, 2024 | -158.00 Mn |
| Mar 31, 2024 | -157.00 Mn |
| Dec 31, 2023 | -178.00 Mn |
| Sep 30, 2023 | -174.00 Mn |
| Jun 30, 2023 | -173.00 Mn |
| Mar 31, 2023 | -179.00 Mn |
| Dec 31, 2022 | -197.00 Mn |
| Sep 30, 2022 | -202.00 Mn |
| Jun 30, 2022 | -212.00 Mn |
| Mar 31, 2022 | -212.00 Mn |
| Dec 31, 2021 | -285.00 Mn |
| Sep 30, 2021 | -254.00 Mn |