Spotify Losses Narrow As User Growth Tops Forecasts In Strong Q4; Stock Pops
SPOTSpotify(SPOT) Deadline·2024-02-06 20:37

Spotify‘s losses narrowed and sales rose with user and subscribers additions beating expectations in a strong fourth quarter. The company has shed staff and others costs and sees “revenue and profitability trends both inflecting favorably heading into 2024.” The stock is up more than 6% in pre-market trading on the numbers. Monthly active users exceeded guidance, growing 23% year-on-year to 602 million, adding 28 million new users. Premium subscribers rose 15% year-on-year to 236 million, adding 10 million. ...