Spotify Technology S.A.
SPOT
ISIN LU1778762911 / Valor 40769307
Spotify Technology S.A.
UMushroom community rating:
About company
Spotify Technology S.A. is a music streaming service that offers users access to a vast library of songs, podcasts, and other audio content. The company operates in various markets around the world, with Spotify AB serving users outside of the United States. Spotify's platform allows users to discover and listen to music on-demand, create playlists, and share music with others. The company generates revenue through subscription fees and advertising, and has become a popular choice for music lovers looking for a convenient and personalized listening experience.
Summarized from source with an LLMView SourceSector: Consumer Non-CyclicalsLatest Results (07.08.2024):
Revenue Growth
Spotify Technology S.A. reported a significant increase in revenue for the second quarter of 2024. The company's total revenue reached €3.5 billion, marking a 15% year-over-year growth. This growth was primarily driven by a rise in premium subscriptions and increased advertising revenue.
Net Income
For the second quarter of 2024, Spotify Technology S.A. posted a net income of €150 million. This is a notable improvement compared to the net loss of €50 million reported in the same quarter of the previous year. The positive net income was attributed to higher revenue and effective cost management.
Subscriber Growth
Spotify Technology S.A. saw a substantial increase in its subscriber base during the second quarter of 2024. The total number of premium subscribers grew to 220 million, up from 200 million in the second quarter of 2023. This 10% increase highlights the company's strong market position and customer retention strategies.
Advertising Revenue
Advertising revenue for Spotify Technology S.A. in the second quarter of 2024 reached €500 million, representing a 20% year-over-year increase. The growth in advertising revenue was driven by higher ad placements and improved targeting capabilities, which attracted more advertisers to the platform.
Outlook
Spotify Technology S.A. provided an optimistic outlook for the remainder of 2024. The company expects continued revenue growth driven by an expanding subscriber base and increased advertising revenue. Additionally, Spotify plans to invest in new content and features to enhance user experience and maintain its competitive edge in the market.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
93695 M
Market cap (USD)
525,160
Daily traded volume (Shares)
473 / 460.85
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
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P/E ratio
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EPS (USD)
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Ratings & reviews
Luba Schoenig
Vladimir Jovicic
Robin Roten
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