Spotify shares pop 10% after company reports first profitable year
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Spotify shares surged 10% following the announcement of its first full year of profitability. The company also reported paying a record $10 billion in royalties to the music industry in 2024.
February 04, 2025 | 4:00 pm
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Spotify's stock rose by 10% after the company announced its first full year of profitability and a record $10 billion in royalties paid in 2024.
The 10% increase in Spotify's stock price is directly linked to the positive news of its first profitable year, which is a significant milestone for the company. Additionally, the record $10 billion in royalties paid indicates strong revenue performance, further boosting investor confidence.
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