Spotify Reports Soaring Revenue and Profitability

Spotify (SPOT) has released an update.

Spotify kicks off 2024 with strong financial performance, reporting a 20% year-over-year revenue increase to €3.6 billion, driven by substantial growth in premium subscribers and ad-supported monthly active users. The company achieved a record high gross margin of 27.6% and an operating income of €168 million. Spotify’s free cash flow remained robust at €207 million, solidifying its financial position.

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