Spotify reported a 16% revenue increase and premium subscriber numbers that exceeded previous forecasts. Following these Q3 results, the company's stock jumped 11% as profit margins showed improvement. Additionally, Spotify is increasingly focusing on integrating AI technology to drive future growth on the platform.
The company forecast operating income of 820 million euros in the fourth quarter, with premium subscribers reaching 316 million, while its active-user forecast fell short of analyst estimates.
Read the full storyThe company's fourth-quarter operating profit and subscriber forecasts beat analysts' estimates, although third-quarter revenue and earnings per share fell short of expectations.