Why Spotify Stock Jumped as Much as 11.4% Today
SPOTSpotify(SPOT) The Motley Fool·2024-02-07 03:09

Spotify (SPOT 3.39%) reported better than expected fourth-quarter financial results before the market opened on Tuesday, and shares promptly jumped by 11.4%. But as the day wore on, the enthusiasm faded, and as of 1:30 p.m. ET, the stock was up by just 3.2%. Beating expectations Spotify reported a 10 million subscriber increase in premium members in the quarter, beating the 8.9 million that analysts expected. Total monthly active users hit 602 million, topping estimates by 1 million. Revenue was up 16% year ...