Spotify Adds More Subscribers, Podcasts Fuel Ad Rebound

Spotify Adds More Subscribers, Podcasts Fuel Ad Rebound
The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange, on May 3, 2018. Brendan McDermid/Reuters
|Updated:

STOCKHOLM—Spotify Technology SA beat Wall Street estimates for third-quarter revenue as more paid subscribers signed up for its premium service and advertisers lined up to air ads in between music and podcasts.

Premium subscribers, which account for most of the company’s revenue, hit 172 million, just beating analysts’ expectations of 171.7 million.