Spotify's stock popped as the music streaming platform reported strong monthly average user growth and said it had its best "Spotify Wrapped" ever.
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Spotify
’s stock popped 14% as the music streaming platform added more users and bolstered features in newer markets.
Here’s how the company did compared to LSEG estimates.
Revenues in the fourth quarter rose 7% year over year.
The streaming platform had 281 million premium subscribers for the quarter, coming in just below StreetAccount expectations.
The Swedish music giant saw record users despite artists saying they aren't paid enough to put their music on the platform.
The Swedish audiostreamer's soft guidance overshadowed an earnings beat.
Spotify stock fell after the music streaming platform fell short of Wall Street's revenue expectations.
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