Spotify Gross Profits Top $1B, Revenues Jump 20% in Quarterly Earnings ...Middle East

Spotify reported on Tuesday that first quarter revenue jumped 20% and gross profit topped 1 billion euros ($1.08 billion), returning the now 18-year-old streaming company to profitability and putting it on track to meet its 2024 growth target. Spotify reported 3.6 billion euros ($3.9 billion) in first quarter revenue, up from 3.04 billion euros ($3.3 billion) a year ago, and gross profit rose 31% to 1.004 billion euros ($1.08 million) from 766 million euros ($833 million), according to filings. Spotify chief executive Daniel Ek said that revenue growth accelerated and the company had record-high profits in the qua

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