On October 7, Spotify Technology S.A. rose 3.05% in regular trading, trading at $503.385 per share with turnover of $287 million. The core catalyst was the company's announcement that it plans to expand its audiobook service from 22 existing markets to more than 180 markets by the end of the year, giving users in new markets access to a broader range of audio content.

The company expects third-quarter revenue of 4.97 billion euros, up 14.7% year over year, with gross margin of 32.9%, an increase of 130 basis points year over year. This expansion marks a significant step in Spotify's global strategy and is seen as supporting additional monetization opportunities.

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