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Spotify forecasts strong profit as AI features start to pay off, shares surge

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GEOPOLITICS ALPHASpotify forecasts strong profit asAI features start to pay off,shares surgeGEOPOLITICS ALPHA

By Jaspreet Singh Oct 22 (Reuters) - Spotify forecast fourth-quarter profit above Wall Street estimates on Thursday, banking on its AI-powered features to drive user growth ahead of the crucial holiday season. Shares of the Swedish music streaming company rose more than 9% in

Directly affected

  • No company is named in this report.

Indirectly affected

  • SPY SPDR S&P 500+1.6%

    The broad U.S. stock market

  • TLT iShares 20+ Year Treasury Bond-1.8%

    Long-term U.S. government bonds

  • QQQ Invesco QQQ+2.3%

    Large technology stocks

  • GLD SPDR Gold Shares-3.3%

    Gold can move with the broad market

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
SPY———————
TLT———————
QQQ———————
GLD———————

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Spotify forecasts strong profit as AI features start to pay off, shares surge Euronext Markets: Real-time Stock Market Data | live

Source: Euronext Markets: Real-time Stock Market Data | live

This story

12 out of 100

“Spotify forecasts strong profit as AI features start to pay off, shares surge” scores 12 out of 100. The score uses 1 sources.