Zacks Investment Research
Spotify Stock Jumps on Upbeat Q3 as AI Takes Center Stage
Spotify shares climbed 11% after reporting Q3 results with record 33% gross margins and 11% year-over-year growth in monthly active users to 788 million. While the company missed earnings estimates ($2.85 vs $3.1 expected), it exceeded revenue expectations and guided for continued growth. AI-driven personalization features are becoming central to the company's strategy, with management dismissing concerns about AI assistants weakening customer relationships.
