LUXEMBOURG (AP) - LUXEMBOURG (AP) - Spotify Technology SA (SPOT) on Monday reported third-quarter net income of $273.7 million.
On a per-share basis, the Luxembourg-based company said it had net income of 41 cents.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The music-streaming service operator posted revenue of $1.97 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.91 billion.
For the current quarter ending in December, Spotify said it expects revenue in the range of $1.98 billion to $2.2 billion.
Spotify shares have climbed slightly more than 6% since the beginning of the year. The stock has decreased 17% in the last 12 months.
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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
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