Spotify reports profitable Q3, paying customers increased despite the price hike

Spotify shared its Q3 earnings report and it’s positive for a change. The company reported a profit of €65 million for the third quarter and an operating income of €32 million. Those compare nicely with €166 million net loss and €228 operating loss a year prior.

Spotify’s paying customers rose 3% over Q2 and 16% over Q3 of last year – this is in spite of Spotify’s subscription price increase in the last quarter. Monthly active users rose to 574 million – up 4% QoQ and 26% YoY.

Spotify usually reports losing quarters because it targets user growth over profit. Audiophile users are…

​ Spotify shared its Q3 earnings report and it’s positive for a change. The company reported a profit of €65 million for the third quarter and an operating income of €32 million. Those compare nicely with €166 million net loss and €228 operating loss a year prior.

Spotify’s paying customers rose 3% over Q2 and 16% over Q3 of last year – this is in spite of Spotify’s subscription price increase in the last quarter. Monthly active users rose to 574 million – up 4% QoQ and 26% YoY.

Spotify usually reports losing quarters because it targets user growth over profit. Audiophile users are…   Read More GSMArena.com – Latest articles