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Spotify Reports Second Quarter 2024 Earnings

Moomoo News ·  Jul 23 06:12  · Earnings

Spotify Technology S.A. (NYSE: SPOT) has released its financial results for the second quarter of 2024 today.

  • Monthly Active Users grew 14% Y/Y to 626 million.

  • Subscribers increased 12% Y/Y to 246 million.

  • Total Revenue was up 20% Y/Y to €3.8 billion.

  • Gross Margin reached 29.2%.

  • Operating Income improved to €266 million.

“It’s an exciting time at Spotify. We keep on innovating and showing that we aren’t just a great product, but increasingly also a great business,” said CEO Daniel Ek. “We are doing so on a timeline that has exceeded even our own expectations. This all bodes very well for the future.”

Spotify IR
Spotify IR

Outlook for Q3’24

The following forward-looking statements reflect Spotify’s expectations for Q3 2024 as of July 23, 2024 and are subject to substantial uncertainty.

Spotify IR
Spotify IR
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