The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange on Dec. 4, 2023.
Spotify shares rose in extended trading Tuesday after the Swedish music streaming company issued a profit forecast for the fourth quarter that topped estimates.
Spotify said operating income in the fourth quarter will come in at 481 million euros, exceeding the average analyst estimate of 432.7 million euros, according to StreetAccount.
The company said sales will reach 4.1 billion euros, below the average analyst estimate of 4.26 billion euros, according to LSEG.
Spotify shares rose about 8% after the report to $452.35 after rising 2.2% in regular trading.
Persons:
MAUs
Organizations:
New York Stock Exchange, Spotify, LSEG Revenue, LSEG, StreetAccount
Locations:
Swedish