LUXEMBOURG (AP) — LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Tuesday reported fourth-quarter profit of $391.5 million.
The Luxembourg-based company said it had net income of $1.88 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The music-streaming service operator posted revenue of $4.53 billion in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $4.36 billion.
For the year, the company reported profit of $1.23 billion, or $5.95 per share. Revenue was reported as $16.96 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOT
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