Spotify beats revenue estimates on ads, user growth

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:Spotify Technology reported quarterly revenue on Wednesday that beat analysts' estimates on higher advertising income and as more people subscribed to its premium service, sending the audio streaming platform's shares up about 5 per cent in trading before the bell.The company has bet big on podcasts, investi

:Spotify Technology reported quarterly revenue on Wednesday that beat analysts' estimates on higher advertising income and as more people subscribed to its premium service, sending the audio streaming platform's shares up about 5 per cent in trading before the bell.

Spotify said the share of podcasts in content consumption on its platform grew by double digits and reached an all-time high in the reported quarter.

 

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