Spotify's user growth beats expectations, posts quarterly profit

Spotify has reported a rise in both monthly active users and premium subscribers. The company's operating income for the third quarter was 32 million euros, its first quarterly profit since 2021. Spotify has been controlling costs after investing heavily in its podcast business, including layoffs. The company expects to reach 601 million monthly listeners by the final quarter of 2023 and is on track to achieve 1 billion users and $100 billion in revenue annually by 2030.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BMc2Y7z