Spotify Predicts Q4 Profit Above Wall Street Estimates
Spotify forecast fourth-quarter operating income above analyst estimates as investments in artificial intelligence features drive user engagement. Shares rose nearly four percent in premarket trading following the upbeat outlook.
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SPOTIFY TECHNOLOGY SA forecast fourth-quarter operating income of €820 million ($920.53 million), topping analyst expectations on artificial intelligence investments. The Sweden-based streaming platform is ramping up AI discovery tools to capture users during the holiday season. Shares rose 4% in premarket trading following the guidance.
