Tencent Music Entertainment Group announced on Tuesday that its total revenues in the fourth quarter of its fiscal 2024 amounted to 7.46 billion yuan (approximately $1 billion), growing 8.2% on an annual basis. In the three months ending December 31, 2024, year over year, profit and diluted earnings per share (EPS) both soared 50% to 2.1 billion yuan ($284 million) and 0.63 yuan ($0.09) respectively.

For the entire 2024, on an annual level, revenue grew 2% to 28.4 billion yuan ($3.9 billion), profit skyrocketed 36% to 7.1 billion yuan ($974 million), and diluted EPS surged 37% to 2.12 yuan ($0.29).

"Our unwavering focus on user experience and effective operations have been crucial for stellar performance in 2024 and will continue to underpin future development," CEO Ross Liang said. Meanwhile, Executive Chairman Cussion Pang announced "an annual dividend of approximately US$273 million and an expanded share repurchase program of up to US$1 billion."