Spotify has announced revenue of €1.35bn ($1.53bn) for Q3 2018, against analysts' average estimates of €1.33bn. Company revenue has risen by 31% year-on-year, driven by a 28% rise in monthly active users. The company said it had more than 100 million paid subscribers and that its total number of users was up to 1 billion. This week the company announced a partnership with Google where it will offer Google Home Mini speaks to people taking its Family plan as a holiday season promotion. The company has already warned that its partnership with Google to offer its Home Mini Smart Speaker as part of a festive season promotion for family plan customers is expected to negatively affect margins in Q4 2018.
Spotify has announced revenue of €1.35bn ($1.53bn) for Q3 2018, against analysts' average estimates of €1.33bn. Company revenue has risen by 31% year-on-year, driven by a 28% rise in monthly active users. The company said it had more than 100 million paid subscribers and that its total number of users was up to 1 billion. The company has already warned that its partnership with Google to offer its Home Mini Smart Speaker as part of a festive season promotion for family plan customers is expected to negatively affect margins in Q4 2018.