Spotify Posts First Quarterly Profit in More Than a Year, Paid Subscribers Reach 226 Million ...Middle East

Spotify announced its first profitable quarter in more than a year in its earnings report Tuesday, stating that long-delayed subscription price hikes, a round of layoffs and marketing budget cuts assisted in boosting revenues and operating income. However, the profit was a small one — just 1%. The company reported third-quarter revenues rising 11% to $3.6 […]

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