Spotify raised the prices of its subscription plans earlier this year and has been expanding into podcasts and audio books.
shares jumped 10% on Tuesday after the company reported a surprise profit for the third quarter — its first quarterly profit in a year and a half — as price increases and cost-cutting measures took hold.The Swedish music streaming giant posted a profit of 65 million euros, driven by"lower marketing spend and lower personnel costs and related costs.
Spotify had 574 million monthly active users in the quarter, compared with 572.1 million estimated, according to StreetAccount. Monthly active users drove 447 million euros of ad-supported revenue, the company reported, an increase of 16% year over year."The podcasting business is a much bigger global business because Spotify is a part of that business now," CFO Paul Vogel said during the company's earnings call on Tuesday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 college football top 10 rankings: Joel Klatt's top 10 teams after Week 8Following a wild week of college football, there are plenty of shakeups in Joel Klatt's top 10 rankings, including a new team at No. 1.
Read more »
News4JAX Super 10: Ponte Vedra, Raines move up in Week 10 rankingsThe News4JAX Super 10 football rankings will be published Tuesday’s during the regular season. All games at 7 p.m. unless indicated.
Read more »
U.S. stock futures fall as 10-year Treasury yield hits 5%Barbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter bkollmeyer.
Read more »
Stock Market Today: 10-Year Treasury Yield Hits 5%This week will bring earnings from several of the 'Magnificent Seven' tech giants
Read more »
U.S. stock futures tumble as 10-year Treasury yield tops 5%Barbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter bkollmeyer.
Read more »
Stock Market Today: Stocks slide, 10-year yields top 5%, as war risks cloud marketsU.S. equity futures nudged lower Monday, while Treasury bond yields tested fresh multi-year highs in an extended selloff that could add another layer of volatility onto the busiest earnings week of the year on Wall Street. Investors continue to track developments in Israel's war with Hamas, which ...
Read more »