🟢 Spotify is trading 5% up in pre-market with Q4 operating income forecast topping estimates

Spotify is trading 5.06% up at $551.90 after its October 22 report, with Q4 operating income guidance above estimates.

• Premium subscribers reached 306 million, above the 305 million estimate; revenue of €4.969 billion and EPS of €2.48 missed analyst expectations.
• Reuters reported Q4 operating income forecast of €820 million, above analysts’ €813.4 million estimate. The pre-market gain came as the S&P 500 fell 1.03% and Nasdaq fell 1.72%; no single result is established as its cause.