Tag: $Spotify

Spotify Technology  reported fiscal second-quarter earnings on Tuesday that beat expectations as revenue came in line with estimates. The audio giant posted a record profit in the quarter — a nod to its recent “efficiency” strategy while monthly active user metrics disappointed.

Spotify raised prices for its premium plans in the United States on Monday, the latest step by the Swedish music-streaming service in its push to increase margins.

Spotify Technology shares were rising early on Tuesday after the music-streaming company beat expectations for its first-quarter profit, despite slightly slower user growth than forecast.

Spotify Technology stock rose Tuesday after the audio-streaming company posted subscriber growth ahead of expectations and a narrower-than-expected loss. A focus on prices and cost-cutting looks to be paying off.

Music streaming service Spotify’s CEO, Daniel Ek, announced that the company is laying off 17% of its workforce.

Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth. However, this was not enough to keep the stock rising after a strong run this year.

On Monday, Spotify announced it will increase the price of its Premium subscription offerings in the U.S. as much as $2, which translates to a 20% increase for some plans.

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Music streaming platform Spotify Technology is planning a more expensive subscription option that is expected to include high-fidelity audio, Bloomberg News reported on Tuesday.