Spotify Q3 User Growth In-Line to Hit 381 Million, Ad Revenue Jumps 75%
“We had a very strong quarter,” Spotify CEO and founder Daniel Ek said in prepared remarks. “The business is doing really well and I’m pleased that we continue to deliver across the areas that are fundamental to our growth and long-term strategy.”for Q3 was for total monthly users of 377 million-382 million and paid subscribers of 170 million-174 million.
Spotify eked out a net profit of €2 million , translating to a net loss of -0.41 euros per diluted share. On average, Wall Street analysts had anticipated revenue of $2.84 billion and EPS of -21 cents.
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