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Why Tencent Music Stock Was Moving Higher Today

TheMotleyFool

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Why Tencent Music Stock Was Moving Higher Today: https://g.foolcdn.com/editorial/images/709479/china-e-commerce.jpg

Shares of Tencent Music (NYSE: TME) were gaining today after the Chinese music streaming company posted strong third-quarter earnings and benefited from braoder gains in China stocks.

As of 11:02 a.m. ET, the stock is up 21.7%.

The company topped estimates on both the top and bottom lines, though revenue declined 5.6% to $1.04 billion, which was ahead of expectations at $994.3 million.

Source Fool.com

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