Spotify (SPOT) has released an update.
Spotify Technology S.A. reports a significant turnaround with a net income of €197 million for the first quarter of 2024, compared to a net loss of €225 million in the same period last year. The music streaming giant’s revenue saw a healthy increase to €3.636 billion from €3.042 billion, marking a substantial year-over-year growth. This financial rebound is reflected in the earnings per share, which improved from a loss of €1.16 to a gain of €0.99.
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