Spotify shares are trading higher after the company reported a 28% increase in ad-supported MAUs and a 15% increase in premium subscribers for Q4.
Portfolio Pulse from Benzinga Newsdesk
Spotify reported a significant growth in its user base for Q4, with a 28% increase in ad-supported monthly active users (MAUs) and a 15% increase in premium subscribers, leading to a rise in its share price.
February 06, 2024 | 11:10 am
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Spotify's Q4 report shows robust growth in both ad-supported MAUs and premium subscribers, indicating a strong user base expansion and potentially higher future revenues.
The reported growth in both ad-supported and premium user bases suggests Spotify is successfully expanding its market reach and improving its revenue streams. This positive news is likely to instill investor confidence, driving up the stock price in the short term.
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