![Spotify forecasts profit above estimates on cost cuts, steady user growth](https://cyprus-mail.com/wp-content/uploads/2024/11/spotify.jpg)
Audio-streaming giant Spotify (SPOT.N) forecast fourth-quarter profit above Wall Street estimates this week, betting on cost cuts and strong subscriber growth in the crucial holiday season.
Its shares that have more than doubled in value this year rose 7 per cent in extended trading.
The Swedish company has laid off employees, pulled back podcasts and cut its marketing spend over the past year to boost profitability. It has also raised