LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Thursday reported third-quarter profit of $50 million.
On a per-share basis, the Luxembourg-based company said it had profit of 27 cents.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 51 cents per share.
The music-streaming service operator posted revenue of $1.57 billion in the period, matching Street forecasts.
For the current quarter ending in December, Spotify said it expects revenue in the range of $1.57 billion to $1.8 billion.
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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
