Spotify Stock Gains on Subscriber Growth and Narrower-Than-Expected Loss

Key TakeawaysSpotify Technology SA reported a narrower fourth-quarter loss after adding audiobooks and while covering the cost of recent staff cuts made to reduce costs.Spotify said its Monthly Active Users grew by 23% year-on-year to 602 million, which was 1 million greater than management’s guidance.Spotify's management sees a strong 2024 after absorbing the costs of staff cuts.The company's diversification into audiobooks has helped to boost new subscribers.Spotify Technology's (SPOT) operating loss narr ...