Streaming giant Spotify exceeded expectations with its quarterly performance. The company reported a third quarter operating income of 32 million euros, marking its first quarterly profit since 2021. This achievement was attributed to higher gross margins and reduced marketing and personnel costs. Spotify’s monthly active user base grew by 26% to 574 million, surpassing both the company’s guidance and analysts’ forecasts. Premium subscribers, which account for the majority of revenue, also rose by 16% to 226 million. The company aims to reach 1 billion users and achieve $100 billion in revenue annually by 2030.