Spotify shares rise 5.2% premarket as quarterly profit forecast tops estimates
FROM THE WIRE · SEEKINGALPHA.COM
[Spotify, Podcasts, Music and other Apps on iPhone screen] stockcam Shares of Spotify Technology (SPOT [https://seekingalpha.com/symbol/SPOT]) rose about 5.2% in the premarket trading on Thursday after the music-streaming company reported third-quarter results, with revenue and…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishGross margin and operating income beat estimates, while revenue was slightly below consensus.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Revenue rose 16% to €4.97 billion, slightly below the €4.98 billion consensus.
- 02Operating income advanced 15% to €672 million, narrowly above the €670 million estimate.
- 03Gross margin reached 33%, above the 32.9% estimate; monthly active users hit 788 million.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets