Spotify Stock Jumps as Streaming Giant Hits First Full Year of Profitability

Spotify (SPOT) shares are jumping around 8% in premarket trading Tuesday, after the Swedish audio streaming giant posted its first full-year profit and quarterly revenue that beat estimates. “Spotify hit some huge milestones, including our first full year of profitability,” Chief Executive Officer Daniel Ek said in a post on X. Spotify, which had been cutting costs in recent years, said fourth-quarter revenue jumped 16% year-over-year to 4.24 billion euros ($4.38 billion). That exceeded the 4.16 billion eu ...