Spotify's Margin Gains, Subscriber Growth Could Support Future Recovery: Analyst
1. Spotify's Q3 2025 profits exceeded estimates due to premium subscriptions. 2. Total revenue rose 7% to €4.27 billion, surpassing forecasts. 3. Gross margins improved to 31.6%, reflecting operational efficiency. 4. Four-quarter outlook shows continued margin strength despite slight revenue shortfall. 5. Goldman Sachs maintains a Neutral rating with a target of $770.