Spotify reports record quarterly earnings, shares jump 14% in premarket trade

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LONDON :Spotify posted a record quarterly profit slightly ahead of analyst expectations on Tuesday, pushing its shares up more than 14 per cent in premarket trading.

"They did miss their MAU, but within their guidance they are still confident that number will go up, and if they stay on track we'll all forget about them missing it this quarter".

"In a nutshell, it was a very good quarter for them," said Simon Dyson, an analyst at Omdia, a consultancy firm which focuses on media, telecoms and communications.

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Category: EconomyBusiness

Markets: Singapore

Topics: Spotify Quarter Number Billion Cent Euros Expectations Million 2024 Rose Profit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 18:26:08 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 473 words

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Sentences: 21 lines

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