Spotify's Q3 results and new features signal strong growth. Learn why SPOT stock is a buy with a $500 price target and a promising ad revenue outlook.

Music streaming giant Spotify grew monthly active users and premium subscribers last quarter, beating forecasts on both of those and other metrics as the stock rose more than 9% after the numbers before settling slightly to well over $450.

Spotify reported third-quarter results Tuesday that missed Wall Street estimates, but that was overshadowed by the Swedish audio streaming giant's improved margins amid cost-cutting efforts. Spotify Technology SA (NYSE:SPOT)

ValueAct Capital has amassed a $1 billion stake in Facebook and Instagram parent Meta Platforms, a validation of the tech giant’s moves in artificial intelligence, a source familiar with the matter confirmed.

ValueAct Capital Management has taken a $1 billion stake in Facebook parent Meta Platforms Inc., according to a person familiar with the matter.

Activist investor ValueAct has a $1 billion stake in Facebook parent Meta, according to people familiar with the matter.