Spotify shares pop 10% after company reports first profitable year

Core Insights - Spotify's shares increased by 10% following the announcement of its first full year of profitability, with a net income of 1.14 billion euros [1] - The company reported a 40% year-over-year growth in gross profit, reaching 477 million euros in operating income, slightly below guidance [1] - Spotify paid a record $10 billion in royalties to the music industry in 2024, with expectations for continued growth due to a new multi-year publishing agreement with Universal Music Group [2] Financial Performance - Revenue for the fourth quarter was reported at 4.24 billion euros, surpassing the expected 4.19 billion euros [3] - Earnings per share were 1.76 euros, which fell short of the expected 1.99 euros [3] - Monthly active users (MAUs) reached 675 million, exceeding the expected 664.3 million [3]