Why Spotify Stock Surged Today

·2 min read
Why Spotify Stock Surged Today

Shares of Spotify (NYSE: SPOT) climbed 8.2% on Wednesday after the audio streaming platform's third-quarter results demonstrated a marked improvement in profitability. Together, these gains helped to fuel a 27% surge in Spotify's revenue, to $2.9 billion, which bested Wall Street's expectations of $2.8 billion. Investors cheered Spotify's impressive third-quarter performance.

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