Spotify quarterly revenue beats Wall Street estimates on subscriber growth

Spotify Technology SA beat Wall Street estimates for fourth-quarter revenue on Wednesday, as the music streaming company hit 155 million paid subscribers for its premium service. Premium subscribers, who account for most of its revenue, were up 24% from a year earlier. Analysts on average were expecting the company to have 153.

26 million paid subscribers, according to IBES data from Refinitiv. Total monthly active users rose 27% to 345 million. Spotify said the pandemic had had little impact on its subscriber growth, though it.

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