Spotify Jumps on Sales and Subscriber Growth, Higher Pricing

Spotify Technology SA rose the most since January after the music-streaming giant reported third-quarter results that beat expectations on sales and subscriber growth, all during a time when it raised prices.

Chief Financial Officer Paul Vogel said the company reached an “inflection point” on profitability and anticipated further revenue growth in the fourth quarter. The platform’s podcast business, which had dragged on margins over the past year, would break even “pretty soon,” he said, after it cut team members and shows in active production.