Spotify reports surprise return to profit, says faster growth than Apple Music

Spotify has reported a surprise return to profit, only the second quarter in which it has made one during its 13-year history. The news saw the stock jump 7% in pre-market trading.

Spotify revealed that it now has 113M paid subscribers, up five million during Q3. Including free members on its ad-supported tier, it has 248M monthly active users. The company cited one particular factor at play and says that it expects even better things ahead…

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