Spotify Stock Rises 9% On Strong Q4 Earnings, Revised Guidance

(RTTNews) - Spotify Technology S.A. (SPOT) is up by 9.37 percent during Tuesday trading after the company reported better-than-expected fourth-quarter earnings and raised its guidance for the current quarter.

SPOT is currently trading at $608.92, up $59.84 from the previous close of $549.08. The stock has fluctuated today, reaching a high of $618.55 and a low of $581.07. Trading volume has reached 3.90 million shares, surpassing the average volume of 2.66 million shares.

Spotify reported impressive growth, with net income of 367 million euros, or 1.76 euro per share, a significant turnaround from the loss of $70 million euros or 0.36 euro per share in the same quarter last year.

Looking ahead, for the first quarter, the company expects revenue of 4.2 billion euros.