Spotify Technology SA (NYSE:SPOT) will post third quarter results on Tuesday and investors will be hoping for a similar performance to the second quarter.
The music streaming platform, founded in Sweden, reported revenue of €2.9bn for the June quarter, a 23% increase year-over-year.
Additionally, the New-York listed company saw an increase in paid subscribers, up 14%, at a time when streaming services are being cut from expenses.
Spotify Premium subscribers rose to 188mln, which similarly beat analyst expectations of 187mln, while monthly active users increased nearly 20% to 433mln, beating expectations of 428mln.
Like many companies, however, the share price has tanked this year, with Spotify losing half its value, down to US$88.49.