Spotify reports record quarterly profit after a year marked by deep layoffs and activist attention
Publishing timestamp: 2024-04-23 10:59:05
Summary
Spotify reported strong first-quarter earnings, with record profit and margin improvements after a year of cost cutting. The company beat analyst expectations on earnings per share and revenue, and also exceeded guidance on monthly active users and gross margin. Spotify's changes over the past year were influenced by activist investor ValueAct, who called for spending rationalization. The company's stock jumped more than 10% on the news.
Sentiment: POSITIVE
Tickers: SPOT,
Keywords: dividends, breaking news, spotify technology sa, earnings, media, business news, breaking news: business, breaking news: technology, technology,
Source: https://www.cnbc.com/2024/04/23/spotify-spot-earnings-q1-2024.html