Tencent Music Entertainment (TME) Operating Expenses (2017 - 2026)
Tencent Music Entertainment (TME) posted Operating Expenses of -$176.0 million for Q1 2026, up 1.12% sequentially from -$178.0 million in Q4 2025, and down 11.39% YoY from -$198.6 million in Q1 2025.
Tencent Music Entertainment (TME) Operating Expenses (2017 - 2026) Analysis & Trends
Tencent Music Entertainment has reported Operating Expenses for 10 years, with the latest figure at -$176.0 million in Q1 2026.
- Quarterly Operating Expenses fell 11.39% year-over-year to -$176.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$699.0 million (down 8.05% YoY) and the FY2025 annual result came in at -$695.0 million, down 8.42% from the prior year.
- Operating Expenses rose to -$176.0 million in Q1 2026 per TME's latest filing, from -$178.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at -$157.0 million in Q1 2024 and troughed at -$212.0 million in Q1 2022.
- A 5-year average of -$178.2 million and a median of -$176.0 million in 2026 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2026: Operating Expenses surged 30.88% in 2022, then retreated 11.39% in 2026.
- Over 5 years, Operating Expenses stood at -$197.0 million in 2022, then rose by 9.64% to -$178.0 million in 2023, then grew by 9.55% to -$161.0 million in 2024, then fell by 10.56% to -$178.0 million in 2025, then gained by 1.12% to -$176.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered -$176.0 million, -$178.0 million, and -$184.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,209.11 Bn | 3,780.07 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,537.88 Bn | 1,447.62 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Taboola.com | 1,134.89 Bn | 1,134.76 Bn | 139.48 Mn | 132.22 Mn |
| 4 | Baidu | 289.34 Bn | 284.85 Bn | 1.88 Mn | 4.19 Bn |
| 5 | Spotify Technology | 102.76 Bn | 92.52 Bn | 1.75 Bn | 512.79 Mn |
| 6 | Joyy | 77.62 Bn | 76.74 Bn | 205.64 Mn | -187.82 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 303,858.00 |
| 8 | Nebius | 49.31 Bn | 39.68 Bn | 295.20 Mn | 527.00 Mn |
| 9 | 30.43 Bn | 27.64 Bn | 734.60 Mn | 573.19 Mn | |
| 10 | Tencent Music Entertainment | 27.02 Bn | 24.32 Bn | 514.00 Mn | -176.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | -260.00 Mn |