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Spotify's China rival posts $127M quarterly loss after US IPO
short by Kanishka Pandey / on 20 Mar 2019,Wednesday
Spotify's China-based music streaming rival Tencent Music has reported a net loss of around $127 million in its first quarter after going public in the US in December 2018. Tencent Music shares fell over 7% after hours despite reporting strong Q4 earnings. Notably, Tencent Music has been profitable at an operating level for the last two years, unlike Spotify.
short by Kanishka Pandey / 07:20 pm on 20 Mar
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