2024-04-24 11:37:51 ET
Summary
- Spotify Technology S.A. beats market expectations in recent financial results.
- Price increases and layoffs contribute to cost optimization and margin expansion.
- Growth in ad-supported revenue and advertising business contributes to overall revenue growth.
Spotify Technology S.A. ( SPOT ) released their Q1 FY24 result on April 23 rd , meeting market expectations and sending the stock higher after the release. Recently, Spotify raised subscription prices in the U.S. for the first time since 2011. In addition, they cut their workforce to optimize the cost structure....
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Spotify: Firing On All Cylinders, Initiating Stock With 'Strong Buy'