Spotify To Refund Car Thing Owners Before Disabling Devices in December, But You'll Need A Receipt
Portfolio Pulse from Ananya Gairola
Spotify Technology SA (NYSE:SPOT) will refund customers who purchased its Car Thing dashboard accessory before deactivating the devices in December 2024. This decision follows a class action lawsuit and comes after a challenging year for Spotify, which included price increases, layoffs, and a 20% revenue growth in Q1 2024.
May 31, 2024 | 5:16 am
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Spotify will refund Car Thing owners before deactivating the devices in December 2024. This follows a class action lawsuit and comes after a challenging year with price increases, layoffs, and a 20% revenue growth in Q1 2024.
The refund decision and deactivation of Car Thing devices are significant but not likely to have a major short-term impact on Spotify's stock price. The company's recent financial performance, including a 20% revenue growth in Q1 2024, suggests resilience despite challenges.
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