US Stock Movement: Spotify Technology surged on October 22nd due to paid users surpassing guidance, revenue growth, and audio streaming.

Interpretation of Spotify Technology's Surge on October 22

Keywords: Paid users exceeding guidance, revenue growth, audio streaming

1. On October 22, the company announced its third-quarter results: paid subscription users increased to 306 million, a year-on-year growth of 9%, exceeding the company’s previous guidance by 1 million; monthly active users reached 788 million, a year-on-year increase of 11%. Spotify provides audio streaming services in 184 markets.

2. On October 22, the company’s third-quarter revenue was €4.969 billion, up 16.3% year-on-year; gross margin was 33%, up 136 basis points year-on-year, and operating profit was €672 million, higher than guidance.

3. On October 22, the company projected fourth-quarter monthly active users of 818 million, paid subscription users of 316 million, revenue of €5.2 billion, and operating profit of €820 million.

(Disclaimer: This content is collected and summarized by AI technology from public information and is for reference only. It does not constitute investment advice.)