From CNBC: 2025-02-04 10:38:30

Spotify’s shares rose 10% after the company reported its first profitable year, ending with 1.14 billion euros in net income. In the fourth quarter, they had revenue of 4.24 billion euros and 675 million monthly active users, beating expectations. Operating income was 477 million euros, slightly below guidance, with 40% year-over-year gross profit growth.

The music streaming giant paid a record $10 billion in royalties to the music industry in 2024. A new publishing agreement with Universal Music Group will introduce new paid subscription tiers and bundles. Spotify Wrapped drove user engagement, with 35 million net MAU growth in the fourth quarter, a record.

In the fourth quarter, Spotify reported net income of 367 million euros and revenue of 4.24 billion euros, a significant increase from the previous year. The stock is up over 20% year-to-date.



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