{"id":5041,"date":"2023-10-24T14:24:09","date_gmt":"2023-10-24T14:24:09","guid":{"rendered":"https:\/\/infundpros.com\/markets\/spotify-made-a-surprise-profit-price-increases-arent-putting-off-subscribers\/"},"modified":"2023-10-24T14:24:10","modified_gmt":"2023-10-24T14:24:10","slug":"spotify-made-a-surprise-profit-price-increases-arent-putting-off-subscribers","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5041","title":{"rendered":"Spotify Made a Surprise Profit. Price Increases Aren’t Putting Off Subscribers."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0<\/p>\n

\n Spotify
\n (ticker: SPOT) reported a profit of 33 European cents (35 cents) a share for the September quarter. Sales came to \u20ac3.36 billion ($3.57 billion), up 17% from the same period a year earlier once adjusted for currency movements.\u00a0\u00a0<\/p>\n

\n

The company was expected to report a loss of 22 European cents a share on sales of \u20ac3.33 billion, according to a FactSet poll of analysts.\u00a0\u00a0<\/p>\n

Spotify has never made an annual profit, so even one profitable quarter is a highlight, although it won\u2019t do much more than partially offset the losses in earlier quarters this year. The streaming platform has raised prices for its premium subscriptions and laid off hundreds of employees in recent months. <\/p>\n

The company\u2019s major challenge is still to convince the market that it can achieve its long-term gross margin goal of between\u00a0<\/em>30% and 35%. Spotify\u2019s third-quarter gross margin stood at 26.4%, broadly in line with its guidance.\u00a0<\/p>\n

Truist Securities analyst Matthew Thornton wrote that Spotify\u2019s results were \u201csolid\u201d across its key indicators, noting the beats on gross margin and operating profit. <\/p>\n

Spotify\u2019s U.S.-listed shares were up 6.5% in premarket trading at $164.64. In recent weeks some analysts have turned skeptical on the stock\u2019s chances of continuing its stellar run. However, Truist\u2019s Thornton kept a Buy rating and $176 target price on the stock. <\/p>\n

Spotify said its monthly active users rose to 574 million for the quarter and premium subscribers came to 226 million, both narrowly ahead of its guidance and consensus expectations.<\/p>\n

Average revenue per user from Spotify\u2019s premium subscribers was down 1% from the same period a year earlier, adjusted for currency. The company said this was due to shifts in what products premium subscribers were paying for and which markets they were in. <\/p>\n

Spotify said that for the fourth quarter it expects an operating profit of \u20ac37 million on revenue of \u20ac3.7 billion, with a gross margin of 26.6%, It expects monthly active users to rise to 601 million and premium subscribers to climb to 235 million.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify…<\/p>\n","protected":false},"author":1,"featured_media":5042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-5041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nSpotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros<\/title>\n<meta name=\"description\" content=\"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=5041\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=5041\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-24T14:24:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-24T14:24:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/1698157449_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=5041#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=5041\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Spotify Made a Surprise Profit. Price Increases Aren’t Putting Off Subscribers.\",\"datePublished\":\"2023-10-24T14:24:09+00:00\",\"dateModified\":\"2023-10-24T14:24:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=5041\"},\"wordCount\":370,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=5041#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=5041\",\"url\":\"https:\/\/infundpros.com\/?p=5041\",\"name\":\"Spotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-10-24T14:24:09+00:00\",\"dateModified\":\"2023-10-24T14:24:10+00:00\",\"description\":\"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=5041#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=5041\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=5041#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Spotify Made a Surprise Profit. Price Increases Aren’t Putting Off Subscribers.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Spotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros","description":"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=5041","og_locale":"en_US","og_type":"article","og_title":"Spotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros","og_description":"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:","og_url":"https:\/\/infundpros.com\/?p=5041","og_site_name":"inFundPros","article_published_time":"2023-10-24T14:24:09+00:00","article_modified_time":"2023-10-24T14:24:10+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/1698157449_social.jpeg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=5041#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=5041"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Spotify Made a Surprise Profit. Price Increases Aren’t Putting Off Subscribers.","datePublished":"2023-10-24T14:24:09+00:00","dateModified":"2023-10-24T14:24:10+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=5041"},"wordCount":370,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=5041#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=5041","url":"https:\/\/infundpros.com\/?p=5041","name":"Spotify Made a Surprise Profit. Price Increases Aren't Putting Off Subscribers. | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-10-24T14:24:09+00:00","dateModified":"2023-10-24T14:24:10+00:00","description":"Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth.\u00a0 Spotify (ticker:","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=5041#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=5041"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=5041#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Spotify Made a Surprise Profit. Price Increases Aren’t Putting Off Subscribers."}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/5041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5041"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/5041\/revisions"}],"predecessor-version":[{"id":5043,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/5041\/revisions\/5043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/5042"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}