Spotify Increases On Improved Revenue In Q4

(RTTNews) - Shares of Spotify Technology S.A. (SPOT) are rising more than 9% Tuesday morning after reporting improved revenue in the fourth quarter.

The company said its Premium Subscribers grew 14% to 205 million.

Quarterly revenue increased 18% year-on-year at 3.166 billion euros. Monthly Active Users increased 20% to 489 million.

Spotify, however, reported a loss of 270 million euros or 1.40 euros per share in the fourth quarter, wider than 39 million euros or 0.21 euros per share last year.

SPOT is at $109.28 currently. It has traded in the range of $69.29-208.49 in the last 52 weeks.