Overview Financials News + Filings Key Docs Charts Holdings Ownership
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| In millions of CNY, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
| Revenues: |
| Cloud Music | 6,997.6 | 4,895.7 | 2,318.4 | | | | | |
| Over time | 68,024.4 | 57,755.6 | 47,078.2 | | | | | |
| A point in time | 19,581.7 | 15,911.6 | 12,162.9 | | | | | |
| Advertising services | | | | 2,769.3 | 2,449.6 | 2,152.4 | 1,789.4 | 1,344.8 |
| Other | | | | 48,409.2 | 41,987.8 | 36,026.5 | 21,013.5 | 10,368.0 |
| Total revenues [+] | 87,606.0 | 73,667.1 | 59,241.1 | 51,178.6 | 44,437.4 | 38,178.8 | 22,802.9 | 11,712.8 |
| Products | | | | | | | 1,117.6 | |
| Services | | | | | | | 21,685.3 | |
| Revenue growth [+] | 18.9% | 24.4% | 15.8% | 15.2% | 16.4% | 67.4% | 94.7% | 27.4% |
| Cloud Music | 42.9% | 111.2% | | | | | | |
| Over time | 17.8% | 22.7% | | | | | | |
| A point in time | 23.1% | 30.8% | | | | | | |
| Advertising services | | | | 13.1% | 13.8% | 20.3% | 33.1% | 36.2% |
| E-mail, e-commerce and others | | | | | | | | 220.1% |
| Cost of goods sold [+] | 40,635.2 | 34,683.7 | 27,685.8 | 23,832.4 | 19,394.3 | 16,515.0 | 9,399.3 | 3,261.5 |
| Cost of product sales | | | | | | | 1,053.7 | |
| Cost of services | | | | | | | 8,345.5 | |
| Gross profit | 46,970.8 | 38,983.4 | 31,555.3 | 27,346.1 | 25,043.0 | 21,663.8 | 13,403.6 | 8,451.3 |
| Gross margin | 53.6% | 52.9% | 53.3% | 53.4% | 56.4% | 56.7% | 58.8% | 72.2% |
| Selling, general and administrative [+] | 16,477.7 | 14,075.6 | 9,351.4 | 9,990.3 | 7,886.5 | 5,988.0 | 3,972.6 | 2,362.7 |
| Sales and marketing | 12,214.2 | 10,703.8 | 6,221.1 | 6,911.7 | 5,504.6 | 4,481.8 | 2,958.2 | 1,895.0 |
| General and administrative | 4,263.5 | 3,371.8 | 3,130.3 | 3,078.6 | 2,381.8 | 1,506.2 | 1,014.4 | 467.7 |
| Research and development | 14,076.0 | 10,369.4 | 8,413.2 | 7,378.5 | 4,161.7 | 3,047.0 | 2,158.9 | 1,323.5 |
| EBITDA [+] | 19,692.8 | 17,996.2 | 16,404.4 | 12,037.5 | 13,786.7 | 12,956.4 | 7,454.6 | 4,939.6 |
| EBITDA growth | 9.4% | 9.7% | 36.3% | -12.7% | 6.4% | 73.8% | 50.9% | 9.5% |
| EBITDA margin | 22.5% | 24.4% | 27.7% | 23.5% | 31.0% | 33.9% | 32.7% | 42.2% |
| Depreciation and amortization | 3,275.7 | 3,457.8 | 2,613.8 | 2,060.1 | 791.8 | 327.5 | 182.5 | 174.5 |
| EBIT [+] | 16,417.1 | 14,538.4 | 13,790.7 | 9,977.3 | 12,994.9 | 12,628.9 | 7,272.1 | 4,765.1 |
| EBIT growth | 12.9% | 5.4% | 38.2% | -23.2% | 2.9% | 73.7% | 52.6% | 9.5% |
| EBIT margin | 18.7% | 19.7% | 23.3% | 19.5% | 29.2% | 33.1% | 31.9% | 40.7% |
| Interest income | 2,947.7 | 1,610.0 | 1,306.3 | 22.4 | 362.1 | 200.3 | 62.3 | 27.4 |
| Interest income | 2,947.7 | 1,610.0 | 1,306.3 | 22.4 | 362.1 | 200.3 | 62.3 | 27.4 |
| Other income (expense), net [+] | 1,739.7 | -776.4 | 1,286.4 | 1,077.0 | 482.6 | 1,066.2 | 775.8 | 665.9 |
| Gain (loss) on foreign currency transactions | -490.5 | -3,112.2 | 25.2 | -51.8 | -455.9 | 146.5 | 133.8 | -18.0 |
| Other | 710.4 | 737.2 | 439.4 | 586.9 | 271.9 | 377.7 | 45.1 | 82.4 |
| Pre-tax income | 21,104.5 | 15,372.1 | 16,383.3 | 11,076.7 | 13,839.6 | 13,895.4 | 8,110.3 | 5,458.4 |
| Income taxes | 4,128.3 | 3,041.8 | 2,914.7 | 2,460.7 | 2,156.0 | 2,102.5 | 1,273.4 | 662.7 |
| Tax rate | 19.6% | 19.8% | 17.8% | 22.2% | 15.6% | 15.1% | 15.7% | 12.1% |
| Minority interest | 417.6 | 519.5 | 77.9 | -76.9 | -141.2 | -188.3 | | -39.1 |
| Earnings from continuing ops | 16,856.8 | 12,062.8 | 13,275.0 | 8,291.1 | 11,542.4 | 11,604.5 | 6,735.1 | 4,834.8 |
| Earnings from discontinued ops | | | 7,962.5 | -2,138.7 | -834.5 | | | |
| Net income | 16,856.8 | 12,062.8 | 21,237.5 | 6,152.4 | 10,707.9 | 11,604.5 | 6,735.1 | 4,834.8 |
| Net margin | 19.2% | 16.4% | 35.8% | 12.0% | 24.1% | 30.4% | 29.5% | 41.3% |
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| Basic EPS [+] | $5.07 | $3.65 | $4.12 | $2.56 | $3.51 | $3.54 | $2.05 | $1.48 |
| Growth | 38.9% | -11.5% | 60.8% | -26.9% | -0.8% | 72.4% | 38.5% | 8.2% |
| Diluted EPS [+] | $5.01 | $3.60 | $4.08 | $2.55 | $3.48 | $3.51 | $2.04 | $1.48 |
| Growth | 39.0% | -11.8% | 60.3% | -26.8% | -0.8% | 72.2% | 38.1% | 8.0% |
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| Dividends per share [+] | $1.05 | $1.29 | $2.75 | $0.45 | $0.99 | $0.78 | $0.45 | $0.61 |
| Growth | -18.5% | -52.8% | 516.7% | -55.0% | 27.6% | 73.6% | -26.4% | 142.0% |
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| Shares outstanding (basic) [+] | 3,325.9 | 3,305.4 | 3,220.5 | 3,235.3 | 3,290.3 | 3,281.7 | 3,284.4 | 3,264.5 |
| Growth | 0.6% | 2.6% | -0.5% | -1.7% | 0.3% | -0.1% | 0.6% | 0.5% |
| Shares outstanding (diluted) [+] | 3,367.5 | 3,349.8 | 3,250.0 | 3,254.7 | 3,315.5 | 3,307.1 | 3,305.2 | 3,277.0 |
| Growth | 0.5% | 3.1% | -0.1% | -1.8% | 0.3% | 0.1% | 0.9% | 0.6% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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