Spotify Beats Forecasts for Subscriber Growth; Shares Surge.

Spotify has reported strong subscriber growth that exceeded expectations, leading to a surge in shares. The company's premium subscribers reached 236 million in the fourth quarter, beating analysts' estimates. Monthly active users also increased by 23% to 602 million. Spotify has been working to cut costs and become more efficient, including laying off employees and adjusting its podcast strategy. The company has also expanded its offerings by providing audiobook listening as part of its monthly fee. Spotify forecasts continued growth in active users and premium subscribers for the first quarter. [Extracted from the article]

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