Spotify: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

LUXEMBOURG (AP) _ Spotify Technology SA (SPOT) on Thursday reported a third-quarter loss of $118.1 million, after reporting a profit in the same period a year earlier.

The Luxembourg-based company said it had a loss of 68 cents per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.

The music-streaming service operator posted revenue of $2.31 billion in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $2.33 billion.

For the current quarter ending in December, Spotify said it expects revenue in the range of $2.34 billion to $2.57 billion.

Spotify shares have increased 85% since the beginning of the year. The stock has increased 97% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOT