Spotify reports profit for the first time in history

Spotify has recorded a profit for the first time in its history, earning €1.14 billion in 2024. This was reported by Bloomberg, citing a financial report from Spotify Technology CA.

User statistics:

• Total active users – 675 million (forecast: 664.9 million)
• Paying subscribers – 263 million (forecast: 254.9 million)

Spotify stock growth:

• On February 4, Spotify shares rose 7.5% on the New York Stock Exchange, reaching $590.
• On February 3, the stock closed at $549.08.
• Spotify’s shares surged 138% in 2024.

After expanding its audiobook and podcast offerings, the company shifted its focus to profitability, resulting in a positive financial outcome.

Нодирбек Раззоков

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