Financial Times markets news
February 4, 2025 at 06:13 PM
The Stockholm-based streaming company's first annual profit marks a culmination of efforts to cut costs and improve profitability, including through lay-offs and price increases.
Shares rose 10% after it forecast higher operating income for the first quarter. Operating income was slightly below the company’s guidance in the fourth quarter at €477mn. That left the annual number at €1.4bn, the first yearly profit since Spotify was launched in 2008.
Read more: https://on.ft.com/3EqnGKX
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