RTTNews | Oct 27, 2021 09:59AM EDT

09:58 Wednesday, October 27, 2021 (RTTNews.com) - Spotify Technology S.A. (SPOT) shares are rising on Wednesday morning trade after the company reported third-quarter net profit, compared to loss last year. The company maintained its fourth quarter of the revenue of 2.54-2.68 billion euros and the operating loss of 152-72 million euros.

The company recorded quarterly profit of 2 million euros or 0.01 per share compared to loss of 20 million euros or 0.19 per share.

Revenue for the quarter increased to 2.501 billion euros from 2.331 billion euros in the prior year.

Currently, shares are at $270.83, up 7.39 percent from the previous close of $252.20 on a volume of 705,787. For the 52-week period, the shares have traded in a range of $201.68-$387.44 on average volume of 1,390,315.

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