Spotify tops third-quarter estimates on strong user growth, issues mixed guidance
1. Spotify reported Q3 earnings beat expectations but issued weak Q4 guidance. 2. Premium subscribers rose to 281 million, just below expectations. 3. Ad-supported revenue dropped 6% year-over-year, missing analyst forecasts. 4. Spotify's CEO will transition to executive chairman next January. 5. Fourth-quarter revenue expected at 4.5 billion euros, lower than estimates.