Investing.com — Spotify reported third-quarter outcomes Tuesday that missed Wall Avenue estimates, however that was overshadowed by the Swedish audio streaming big’s improved margins amid cost-cutting efforts.
lW9"> Spotify Expertise SA (NYSE:) was up 9% in current afterhours buying and selling.
The corporate EPS of €1.45 on income of €3.99 billion, in contrast with Wall Avenue estimates for EPS of $1.68 on income of $4.02B
Gross margin improved to 31.1% in Q3 from 26.4% a yr earlier.
Month-to-month lively customers grew 11% to 640M in Q3 from a yr earlier.
Wanting forward, the corporate guided month-to-month lively customers to 665M, gross margin to 31.8% and income to €4.1B.