Spotify's user growth beats expectations, posts quarterly profit

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Prelude to the Best Sommelier of Canada Contest | SaltWireSTOCKHOLM - Streaming giant Spotify on Tuesday reported quarterly monthly active users and subscribers ahead of expectations as it grew in all regions, and forecast that the number of monthly listeners would reach 601 million in the final three months of 2023.

Its gross margin rose to 26.4% in the July-September period, up 166 basis points from the year-earlier period. The number of monthly active users rose 26% to 574 million in the third quarter, beating Spotify's guidance and analysts' forecast of 565.7 million.

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