Spotify Technology S.A. (SPOT) experienced a notable increase of 9.37% during Tuesday's trading session following the release of its fourth-quarter earnings, which surpassed market expectations. Additionally, the company has updated and improved its guidance for the current quarter.
Currently, SPOT's stock price is at $608.92, reflecting a rise of $59.84 from the previous closing price of $549.08. Throughout the day, the stock price has varied, peaking at $618.55 and dipping to a low of $581.07. The trading volume has been robust, with 3.90 million shares exchanged, exceeding the average volume of 2.66 million shares.
In its latest financial report, Spotify demonstrated strong performance, posting a net income of 367 million euros, which equates to 1.76 euros per share. This marks a significant improvement from the 70 million euros loss, or 0.36 euros per share, the company recorded during the same period the previous year.
Looking forward to the first quarter, Spotify anticipates generating revenue of 4.2 billion euros.
