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Spotify on Tuesday reported strong third-quarter results that topped Wall Street expectations and saw total revenue climb 12% year over year, but issued weak guidance for revenue and subscribers for the current quarter.

Shares of Spotify fell 2% on Tuesday.

Here's what Spotify reported compared with LSEG estimates:

Earnings per share: 3.28 euros vs. 1.97 euros expected.

Revenue: 4.27 billion euros vs. 4.23 billion euros expected.

The streaming platform increased premium subscribers by 12% to 281 million, coming in just below StreetAccount expectations of 281.24 million.

Spotify hiked subscription prices in August to 11.99 euros from 10.99 euros in multiple markets, including South Asia, the Midd

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