Spotify Beats on Users and Revenue, Sees Ad Sales Decline

Spotify Technology SA reported active users and sales in the third quarter that surpassed analysts’ expectations even as ad-supported revenue fell.

Monthly active users climbed 11% from a year earlier to 713 million, exceeding analysts’ estimates of 710.6 million. The Stockholm-based company said revenue gained 7% to €4.27 billion ($4.9 billion), also beating expectations. Premium subscribers were roughly in line with projections.