(CercleFinance.com) – Spotify announced on Tuesday that it had ended 2023 with strong performances, its 4th quarter results having reached or exceeded the objectives it had set for itself.
The Swedish online music giant reported this morning a turnover up 16% to 3.76 billion euros, thanks to an increase of 15% to 236 million in the number of paid subscribers (‘premium’).
This figure slightly exceeds its forecast which was established at 235 million.
Its gross margin improved to 26.7%, compared to 25.3% a year earlier, while its operating loss of 75 million euros turned out to be less heavy than expected due to a reduction of its expenses and personnel costs.
For the record, its initial estimate targeted an operating loss of between 93 and 108 million euros over the quarter.
In its press release, Spotify above all promises a favorable change in its turnover and results in 2024, a year which should result in an improvement in its growth and profitability.
Following this publication, the stock was expected to rise 7% on Tuesday morning at the opening of the New York Stock Exchange.
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