Spotify reported its first profitable quarter in more than a year on Tuesday, after subscription price hikes, lay offs and marketing budget cuts helped boost revenues and operating income for music streaming and podcasting giant. Spotify reported revenues for the third quarter rose 11% to 3.4 billion euros ($3.6 billion), and operating income over 32 million euros ($34 million). The company beat its growth guidance on both monthly active users and subscribers, adding 23 million monthly active users, a 26% uplift, for a total of 574 million compared to the year ago period. The number of premium subscribers rose by 6 mil
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