Spotify Technology Posts Loss In Q3 - Quick Facts

(RTTNews) - Spotify Technology S.A. (SPOT) reported a third quarter loss to owners of the parent of 101 million euros compared to profit of 241 million euros, prior year. Loss per share was 0.58 euros compared to profit of 0.36 euros.

Third quarter total revenue was 1.975 billion euros, up 14% or 19% on a constant currency basis (excluding the impact of FX movements). Premium revenue grew 15% to 1.790 billion euros, or 20% growth in constant currency terms.

The company said total monthly active users or MAUs grew 29% year-on-year to 320 million in the quarter. Premium subscribers grew 27% to 144 million.

For the fourth quarter, the company projects: gross margin in a range of 24.2-26.2%; and operating loss in a range of 112 million euros to a loss of 32 million euros; and total revenue in a range of 2.00 billion euros-2.20 billion euros. Total MAUs are projected to be 340-345 million; and total Premium Subscribers are expected in a range of 150-154 million.