US Stock Market Move | Q3 financial report core indicators exceeded expectations, Spotify Technology (SPOT.US) rose 6% in pre-market trading.

On Tuesday, Spotify Technology (SPOT.US) released its third quarter financial report and fourth quarter performance guidance, with several key metrics surpassing market expectations, driving the stock price to rise by 6% in pre-market trading. In the third quarter, Spotify's core paid business showed steady performance: paid subscription revenue increased by 9% year-on-year to 3.83 billion euros, higher than the market's expected 3.76 billion euros; monthly active users reached 713 million, higher than the estimated 710.6 million; paid subscription users reached 281 million (expected 280.91 million); ad-supported users reached 446 million, slightly higher than expected. Spotify expects fourth quarter operating profit to reach 620 million euros, higher than the media's consensus expectation of 605.3 million euros; gross profit margin is expected to be 32.9%, also higher than the market estimate of 32.5%.