Spotify reports record quarterly profit after a year marked by deep layoffs and activist attention

Daniel Ek, CEO of Swedish music streaming service Spotify, gestures as he makes a speech at a press conference in Tokyo on September 29, 2016.Spotify reported first quarter earnings on Tuesday, notching record quarterly profit and beating estimates on the top and bottom lines, after a year of deep cost-cutting and streamlining.Here's how the company did, compared with analyst expectations:Earnings per share: 97 cents vs. 65 cents expected by LSEG analystsRevenue: $3.64 billion vs. $3.61 billion expected by ...