Spotify revenue beats estimates on higher paid subscriber addition

Spotify Technology’s quarterly revenue beat Wall Street expectations on Monday, as the music streaming company reported a better-than-expected 113 million in total paid subscribers for its premium service.
Revenue rose 28 percent to €1.73 billion ($1.92 billion) for the three-months ended Sept. 30, from €1.35 billion a year earlier. Analysts were expecting revenue of €1.72 billion, according to IBES data from Refinitiv.