Today, Spotify announced its quarterly numbers for Q3 2022, sharing that it had amassed 195 million paid subscribers to its service. The number is impressive, especially since the company beat its earnings guidance number by a million. If that wasn't enough, the company is moving forward with a goal to push across the 200 million subscriber mark by year's end. Unfortunately, great subscriber numbers don't always translate to happy stockholders, especially when its gross margins were below expectations, resulting in the stock taking a small tumble during after-hours trading.
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