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LUXEMBOURG (AP) — LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Tuesday reported first-quarter profit of $236.7 million.
The Luxembourg-based company said it had profit of $1.13 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The music-streaming service operator posted revenue of $4.41 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $4.6 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOT