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Music streaming leader Spotify reports a modest rise in paid users

Thursday, November 1, 2018, 5:21 PM

Spotify, the worlds most popular paid music streaming service, on Thursday reported a modest 5% rise in premium subscribers for its third quarter, while revenue and gross margins were roughly in line with market expectations. Caught short by a global sell-off in major tech stocks over the past month, shares of Spotify have erased their roughly 30% gain after the Swedish companys closely watched.

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