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    69% of investors believe metaverse entertainment will change social lifestyles

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    European oil companies want to follow in Chevron’s footsteps to operate in Venezuela

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    Amgen buys Horizon Therapeutics for US$ 25 billion

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    Europe prepares law to make airlines that pollute more pay higher costs

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    Why are Asian investors selling their tech stocks?

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    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Are technology stocks coming to the end of their reign?

    Are technology stocks coming to the end of their reign?

    Amazon fined millions for manipulating algorithms in its favor

    Amazon fined millions for manipulating algorithms in its favor

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    Bets increase on a soft landing in the U.S

    Bets increase on a soft landing in the U.S

    What are CFDs and what are their advantages?

    Getting started with CFD trading

    Goldman Sachs lands with more strength at Santander and BBVA

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    With inflation in recession, what stocks should you consider?

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    Should payment for order flow be maintained in the stock market?

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    Why are Asian investors selling their tech stocks?

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    Here’s what the economy and markets will look in 2023, according to JP Morgan

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    Are technology stocks coming to the end of their reign?

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    Inflation is starting to ease but not enough

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    Two biotech stocks that could explode soon

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    Ideas for investing in the electric vehicle industry

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    Microsoft leads the ranking of the best-managed companies in 2022

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  • Home
  • News
    Bets increase on a soft landing in the U.S

    Bets increase on a soft landing in the U.S

    69% of investors believe metaverse entertainment will change social lifestyles

    69% of investors believe metaverse entertainment will change social lifestyles

    European oil companies want to follow in Chevron’s footsteps to operate in Venezuela

    European oil companies want to follow in Chevron’s footsteps to operate in Venezuela

    Amgen buys Horizon Therapeutics for US$ 25 billion

    Amgen buys Horizon Therapeutics for US$ 25 billion

    Europe prepares law to make airlines that pollute more pay higher costs

    Europe prepares law to make airlines that pollute more pay higher costs

    Why are Asian investors selling their tech stocks?

    Why are Asian investors selling their tech stocks?

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Are technology stocks coming to the end of their reign?

    Are technology stocks coming to the end of their reign?

    Amazon fined millions for manipulating algorithms in its favor

    Amazon fined millions for manipulating algorithms in its favor

  • Markets
    Bets increase on a soft landing in the U.S

    Bets increase on a soft landing in the U.S

    What are CFDs and what are their advantages?

    Getting started with CFD trading

    Goldman Sachs lands with more strength at Santander and BBVA

    Goldman Sachs lands with more strength at Santander and BBVA

    With inflation in recession, what stocks should you consider?

    With inflation in recession, what stocks should you consider?

    Should payment for order flow be maintained in the stock market?

    Should payment for order flow be maintained in the stock market?

    Why are Asian investors selling their tech stocks?

    Why are Asian investors selling their tech stocks?

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Here’s what the economy and markets will look in 2023, according to JP Morgan

    Are technology stocks coming to the end of their reign?

    Are technology stocks coming to the end of their reign?

    Inflation is starting to ease but not enough

    Inflation is starting to ease but not enough

  • Investing
    Two biotech stocks that could explode soon

    Two biotech stocks that could explode soon

    Ideas for investing in the electric vehicle industry

    Ideas for investing in the electric vehicle industry

    Mercado Libre could be one of the best investments for the long term

    Mercado Libre could be one of the best investments for the long term

    Three cheap tech stocks for 2023

    Three cheap tech stocks for 2023

    Where to invest in 2023? These are the most likely trends

    Where to invest in 2023? These are the most likely trends

    Will Ford shares be profitable in 2023?

    Will Ford shares be profitable in 2023?

    Some interesting options for investing in leisure and travel companies

    Some interesting options for investing in leisure and travel companies

    Plug Power’s commitment to green hydrogen

    Plug Power’s commitment to green hydrogen

    Investing in Auto Trader: vehicle sales at a turning point

    Investing in Auto Trader: vehicle sales at a turning point

  • Technology
    Banning TikTok in the U.S. could benefit Meta

    Banning TikTok in the U.S. could benefit Meta

    Microsoft leads the ranking of the best-managed companies in 2022

    Microsoft leads the ranking of the best-managed companies in 2022

    Apple: consequences of the Foxconn conflict will continue until 2023

    Apple: consequences of the Foxconn conflict will continue until 2023

    5 must-have skills to get a job in 2023

    5 must-have skills to get a job in 2023

    UK changes strategy on Internet content control

    UK changes strategy on Internet content control

    EU organized a party in the metaverse and nobody attended

    EU organized a party in the metaverse and nobody attended

    The metaverse companies with the highest revenues in 2022

    The metaverse companies with the highest revenues in 2022

    Electric vehicles: China aims to boost its dominance

    Electric vehicles: China aims to boost its dominance

    Nintendo sells 10 million Switch in 3 days and its shares rise

    Nintendo sells 10 million Switch in 3 days and its shares rise

  • CryptocurrenciesTRENDING
    69% of investors believe metaverse entertainment will change social lifestyles

    69% of investors believe metaverse entertainment will change social lifestyles

    Bitcoin falls after Fed decision to raise interest rates by 0.50%

    Bitcoin falls after Fed decision to raise interest rates by 0.50%

    The future of cryptocurrencies, according to Larry Fink

    The future of cryptocurrencies, according to Larry Fink

    How Much Bitcoin Should You Buy: 5 Factors to Consider in 2023

    How Much Bitcoin Should You Buy: 5 Factors to Consider in 2023

    Between two extremes: what will the price of Bitcoin be in 2023?

    Between two extremes: what will the price of Bitcoin be in 2023?

    FTX crash spreads and affects BlockFi

    FTX crash spreads and affects BlockFi

    EU organized a party in the metaverse and nobody attended

    EU organized a party in the metaverse and nobody attended

    Why does The WSJ continue to question Tether’s financial health?

    Why does The WSJ continue to question Tether’s financial health?

    Brazilian Congress approves bill to regulate cryptocurrencies

    Brazilian Congress approves bill to regulate cryptocurrencies

INVESTOR TIMES
Home Technology
ACTUALIZADO: November 23, 2022

Spotify’s financial results exceed expectations

The streaming company managed to increase its premium subscribers by 14% to 188 million

Eric Nesich by Eric Nesich
7/27/2022 - 11:05
in Technology
Reading Time: 1 min read
Share on FacebookShare on TwitterShare on LinkedIn
  • Spotify reports good quarterly results.
  • It has 433 million active users, of which 188 million are premium.
  • The company reduced its workforce by 25% to face expenses.

Spotify managed to present a result above the market analysts’ estimates on Wednesday. The streaming company achieved a 14% increase in paid subscriptions.

Spotify currently has 433 million active users, a number that exceeded expectations of 428 million. For the next quarter, subscriptions are expected to increase to 450 million. Spotify’s business model is based on paid subscribers and ad-supported playback in its free format. Advertising revenue rose to 31% in this earnings presentation.

The investing public has shown its unease in companies that base their revenues on advertising after Snapchat presented unfavorable results the previous week. The social network reported at the time that advertisers decided to reduce ad spending because of the current economic downturn. SNAP tumbled more than 30% that day.

“We saw a bit of weakness in the last two weeks of the quarter,” said Spotify CFO Paul Vogel. “While we expect advertising to become a much bigger part of our business in the long term … it’s still a reasonably small amount of our revenue at just 13%,” he maintained.

Spotify’s most important business is getting premium subscribers, or those who pay a monthly subscription and avoid listening to commercials. These subscribers amounted to 188 million, exceeding analysts’ expectations of 187 million.

Spotify reported a 23% increase in revenue to €2.9 billion ($2.94 billion), compared to the outlook of €2.8 billion. Although like most companies at this time it had to lay off people to balance its finances. It reduced its workforce by 25%.

The Sweden-based company expects to achieve revenues of €3 billion for the next quarter, above expectations of €2.95 billion.

Tags: companiesSpotifyWall Street

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