Spotify Technology S.A. reported a robust financial performance for the three and nine months ended September 30, 2024, with significant growth in both revenue and Premium Subscribers. The company's total revenue increased by 19% for the quarter and 20% for the nine-month period, driven by a 12% year-over-year growth in Premium Subscribers, reaching 252 million, and an 11% increase in Monthly Active Users (MAUs), totaling 640 million. Ad-Supported revenue also saw an uptick, with a 6% rise for the quarter and 12% for the nine-month period. Gross profit for the Premium segment surged by 39% for the quarter and 33% for the nine-month period, while the Ad-Supported segment turned a profit compared to a breakeven in the previous year. Research and development expenses...Show More

Spotify Technology S.A. reported a robust financial performance for the three and nine months ended September 30, 2024, with significant growth in both revenue and Premium Subscribers. The company's total revenue increased by 19% for the quarter and 20% for the nine-month period, driven by a 12% year-over-year growth in Premium Subscribers, reaching 252 million, and an 11% increase in Monthly Active Users (MAUs), totaling 640 million. Ad-Supported revenue also saw an uptick, with a 6% rise for the quarter and 12% for the nine-month period. Gross profit for the Premium segment surged by 39% for the quarter and 33% for the nine-month period, while the Ad-Supported segment turned a profit compared to a breakeven in the previous year. Research and development expenses decreased, reflecting a strategic reduction in headcount, while sales and marketing expenses also saw a decline. The company's Free Cash Flow showed a significant increase, and Spotify's liquidity position was strengthened with cash and cash equivalents, and short term investments totaling €6,080 million as of September 30, 2024. Spotify continues to optimize its real estate footprint and has not engaged in any unregistered sales of equity securities.