Spotify's better-than-expected profit forecast includes a rise in pop music streaming.

• Spotify issued profit guidance for the fourth quarter that topped estimates.
• Analysts' expectations were not met by the company's third-quarter earnings and revenue.

On Tuesday, shares of the music streaming company rose in extended trading after it released a profit forecast for the fourth quarter that exceeded expectations.

Here's how the company did, compared to what analysts expected:

• Earnings per share: 1.45 euros vs. 1.72 euros expected by LSEG
• Revenue: 3.99 billion euros vs. 4.02 billion euros expected by LSEG
• According to StreetAccount, the number of monthly active users (MAUs) is predicted to be 639 million, compared to the current 640 million.

Despite the company's third-quarter earnings and revenue falling short of expectations, investors paid attention to the forecast for the current period.

Spotify's operating income in the fourth quarter is expected to be 481 million euros, surpassing the average analyst estimate of 432.7 million euros. Additionally, the company's MAUs are predicted to reach 665 million, which is higher than the analysts' expectation of 659.3 million, based on a StreetAccount estimate.

Despite the company's revenue guidance falling short of analyst estimates, sales are expected to reach 4.1 billion euros, below the average estimate of 4.26 billion euros, according to LSEG.

The number of subscribers to Spotify Premium, which offers an ad-free listening experience and unlimited song selection, grew by 12% annually to 252 million, slightly surpassing expectations.

Spotify's stock price increased by 8% after the report, reaching $452.35, up from a 2.2% increase in regular trading. The stock has more than doubled in value this year.

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