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The third-quarter operating profit was only the company's second in history, and was driven by strong user growth and surging podcast interest.
Spotify is getting crushed early Thursday. The stock slid Wednesday afternoon, after the company showed a bad first report card to investors. Thursday, to start the day, the stock is dropping even more.
The freshly public company is expected to report a first quarter loss of $0.31 per share on revenues of $1.14 billion, according to a Bloomberg poll of analysts. In 2017, Spotify lost $5 billion on revenue of $1.5 billion.
Shares of Spotify have slumped 10% from their debut price on Tuesday.
The Swedish music-streaming company's stock began trading shortly before 1 p.m. ET at a valuation of $30 billion.