Spotify's profit falls 42% in the 3rd quarter to 518 million

Spotify reported a net profit of 518 million euros for Q3, a 42% decrease from the previous year. Revenue reached 4.969 billion euros, up 16%, with operational profit rising to 967 million euros, a 25% increase. Monthly active users grew by 11% to 788 million, while premium subscribers increased by 9% to 306 million. The company anticipates reaching 818 million active users and 316 million premium subscribers by year-end, projecting Q4 revenues of 5.2 billion euros and an operational profit of 820 million euros.