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Tencent Music stock falls in first earnings since IPO

Tencent Music Entertainment Group shares fell more than 7% in the extended session Tuesday after the company reported its first results since its initial public offering. The Chinese company reported fourth-quarter net losses of $127 million, or 8 cents per American depositary receipt. Adjusted for items such as stock-based compensation, among other items, earnings were 8 cents per depositary receipt. Revenue grew 51% to $785 million. Tencent Music stock has gained 53% in the past three months, with the S&P 500 index rising 13%.

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