Spotify profits up, but lower marketing hits user growth
STOCKHOLM - Spotify's quarterly gross profit topped 1 billion euros for the first time after it reined in marketing spending, although that meant the music streaming giant missed its forecast for monthly active users.
Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday. Gross margins rose to 27.6% in the quarter from 25.2% a year earlier, helped partly by profits in its podcast business.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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