Spotify turns up volume to make record profits [Yahoo! Finance]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
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Source: Yahoo! Finance
The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks. But its quarterly gross profit came at the expense of missing its forecast for monthly active users. Last year it cut 17% of its workforce in a move to clamp down on costs. Spotify's CEO Daniel Ek said last December about 1,500 jobs would be axed as part of "substantial action to rightsize our costs" so that the company could meet its objectives. Spotify to axe 1,500 workers to cut costs But the tech company has been on a mission expand worldwide and reach a billion users by 2030. On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. "We are going to add back some marketing spend over the year," Mr Ek said. "Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much." Much of Spotify's profits were driven by its podcast bu
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SPOT
News
- Peloton CEO announces departure with company to axe 15% of headcount, as embattled fitness unicorn continues to lose pace [Fortune]Fortune
- Peloton CEO McCarthy stepping down; firm cutting 15% of jobs [BNN Bloomberg (Canada)]BNN Bloomberg
- Audible to test using Prime Video data for audiobook recommendations as Spotify competition heats up [TechCrunch]TechCrunch
- Spotify Technology (SPOT) is Attracting Investor Attention: Here is What You Should Know [Yahoo! Finance]Yahoo! Finance
- Volumio Motivo Brings Italian Design To Music Streaming Technology [Forbes]Forbes
SPOT
Earnings
- 4/23/24 - Beat
SPOT
Sec Filings
- 4/29/24 - Form 144
- 4/26/24 - Form 144/A
- 4/26/24 - Form 144
- SPOT's page on the SEC website