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Why Spotify Stock Popped Today

Why Spotify Stock Popped Today

Shares of streaming music monarch Spotify (NYSE: SPOT) got a big lift on Tuesday, rising 5.8% through noon ET even though the company reported a big net loss for the first quarter before the market opened -- and missed earnings estimates to boot. Heading into Q1, Wall Street analysts had forecast that Spotify would lose $0.93 per share on sales of $3.4 billion. Spotify's revenues rose 14% year over year to 3 billion euros.