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Spotify shares up 5% in pre-market trading following Q3 earnings release

The Wall Street Journal +5 ·

SPOT Spotify Technology SA
$525.34 -0.14%
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  1. 1Spotify recorded a 9% year-over-year growth rate in Spotify Premium subscribers.
  2. 2Spotify achieved nearly 5 billion euros in revenue for the third quarter.
  3. 3Spotify recorded a record gross margin of 33%.

So what's the key point?

Spotify saw an increase in paid subscribers and reached nearly 5 billion euros in revenue. The stock price rose 5% as profit margins also came in high.

Source The Wall Street Journal +5 · View original ↗

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