(Reuters) - Spotify Technology SA, the world’s leading streaming platform, said on Monday it had hit 100 million paid subscribers as it reported a better-than-expected rise in first-quarter revenue. Premium or paying subscribers at the end of the quarter were 100 million, up from 75 million a year earlier. Revenue rose 33 percent to 1.51 billion euros ($1.69 billion), beating analysts’ estimates of 1.47 billion euros, according to IBES data from Refinitiv. Spotify said it expects to have about 107 million to 110 million premium subscribers by the end of the current quarter and 117 million to 127 million subscribers by the end of the year. REUTERS/Lucas JacksonSpotify also said it expects total revenue of 1.51 billion euros to 1.71 billion euros for the second quarter and 6.35 billion to 6.8 billion euros for 2019.

Source: The North Africa Journal April 29, 2019 14:03 UTC