Spotify tops Q3 earnings estimates as margins rebound and price hike speculation builds
Spotify (SPOT) stock reversed early gains to fall around 0.8% shortly after the opening bell on Tuesday after the audio giant reported stronger-than-expected third quarter results, topping analyst estimates on revenue, margins, and user growth while offering mixed guidance for the fourth quarter.
The stock has climbed roughly 70% in the past year, driven by price hikes, a leaner cost structure, and optimism surrounding AI-driven product innovation. Shares currently trade near $640, off their record closing high of about $775 earlier this year.
The audio streaming giant posted revenue of 4.27 billion euros (approximately $4.9 billion), slightly above Bloomberg consensus expectations of 4.23 billion euros ($4.86 billion) and up…
