Spotify Q3 Operating Income of EUR672 Million Exceeds Guidance
Spotify reported third-quarter operating income of EUR672 million, exceeding guidance. Social Charges were EUR22 million, EUR3 million above forecast.
Spotify's third-quarter operating income of EUR672 million exceeded guidance, even as Social Charges came in EUR3 million above forecast at EUR22 million. Social Charges are payroll taxes tied in part to the intrinsic value of share-based compensation awards, and Spotify doesn't incorporate stock p…