Spotify Stock Pops On Quarterly Numbers As Music Streamer Adds Premium Subscribers, Lowers Costs

Monthly active users rose 14% to 626 million and expanded across all regions, although a bit below Wall Street's guidance. But subscribers jumped 12% to 246 million, beating estimates and driving a 20% just in revenue to 3.8 billion euros driven by the subscriber gains and increases in ARPU (average revenue per user). Spotify reported a profit of €274 million (about $298 million) driven in part by higher sales and lower marketing but also by "efficiency actions" last year meaning layoffs and restructuring. ...