Spotify pops 10% on strong user growth, earnings beat [CNBC]
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Source: CNBC
Monthly active users grew 11% from a year ago to 751 million and surpassed a FactSet estimate of 744.7 million. The company said it had its most successful “Spotify Wrapped” ever, with over 300 million users interacting with the feature. In this article Muhammed Selim Korkutata | Anadolu | Getty Images Spotify 's stock popped 10% as the music streaming platform added more users and bolstered features in newer markets Here's how the company did compared to LSEG estimates. Earnings per share: 4.43 euros vs 2.74 euros expected Revenue: 4.53 billion euros vs 4.52 billion euros expected Revenues in the fourth quarter rose 7% year over year. The Swedish company said monthly active users jumped 11% from a year ago to 751 million, surpassing the 744.7 million expected by analysts polled by FactSet. Paid subscribers jumped 10% year over year to 290 million. Spotify attributed strong user additions to growth in Latin America, Europe and the rest of the world and improvement
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