Spotify Posts Strong Growth and Record Profits in Q2

Spotify Technology SA (SPOT) has released an update.

Spotify Technology SA reports robust financial performance for Q2 2024, with a 20% year-over-year revenue increase to €3.8 billion and a 29.2% gross margin, reflecting strong subscriber growth and improved profitability. Premium subscribers rose to 246 million, a 12% jump from the previous year, contributing to record high operating income of €266 million. The company also achieved a significant free cash flow of €490 million, evidencing its solid financial health.

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