Spotify: buoyed by solid quarterly results

(CercleFinance.com) - Spotify climbed over 9% in early trading on Wall Street, the day after the online music specialist published its third-quarter results, which included a rise in operating profit to 454 million euros.


Compared to the corresponding quarter in 2023, its gross margin improved by 4.7 points to 31.1%, on total sales up 19% to four billion euros.

Also on a year-on-year basis, Spotify's number of monthly active users rose by 11% to 640 million, while its subscriber base grew by 12% to 252 million.

"We have outperformed on all key indicators, bringing us closer to a full year of profitability," stresses the Swedish-born group, claiming to be "on a firm path towards achieving our long-term objectives".

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