Spotify Technology S.A. Q3 Income Rises, Beats Estimates

(RTTNews) - Spotify Technology S.A. (SPOT) announced a profit for its third quarter that Increased, from last year and beat the Street estimates.

The company's earnings totaled EUR899 million, or EUR3.28 per share. This compares with EUR300 million, or EUR1.45 per share, last year.

Analysts on average had expected the company to earn EUR2.14 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 7.1% to EUR4.272 billion from EUR3.988 billion last year.

Spotify Technology S.A. earnings at a glance (GAAP) :

-Earnings: EUR899 Mln. vs. EUR300 Mln. last year. -EPS: EUR3.28 vs. EUR1.45 last year. -Revenue: EUR4.272 Bln vs. EUR3.988 Bln last year.

-Guidance: Next quarter revenue guidance: €4.2 Bln