Spotify Technology SA reported robust third-quarter earnings, achieving a record operating income of €454 million and is on track for its first full year of profitability since its founding 18 years ago. Free cash flow over the last 12 months surpassed $2 billion, with margins significantly improving over the past four quarters. Monthly Active Users rose by 11% year-over-year to 640 million, while premium subscribers increased by 12% to 252 million. Despite revenue of €3.99 billion and earnings per share missing estimates, the firm's gross margins exceeded expectations, reaching 31.1% due to recent price increases. The stock surged over 9% following the report. CEO Daniel Ek affirmed that profitability is 'the new normal' for Spotify, positioning it to become the first European startup of its generation to reach a $100 billion valuation.