Spotify shares pop 10% after company reports first profitable year
Posted: Feb 04, 2025
- Spotify shares increased by 10% after the company reported its first profitable year
- The company paid a record $10 billion in royalties to the music industry in 2024
- Spotify Wrapped drove user engagement and helped deliver year-over-year growth
- Spotify stock is up more than 20% year to date, with projections for future growth and revenue.
What do people on Reddit think?
🚨 Reddit sentiment: mixed - There are both positive and negative sentiments expressed. Some users view the profitability positively or neutrally, while others express concerns over stock valuation or service issues. Summarized comments: - Concerns over Spotify's price increases and some service limitations like audiobook listening - Some users think the profit announcement was already expected and should have been priced in - Comparisons between Spotify's high P/E ratio and Apple's lower P/E ratio - Some users are waiting for Spotify's stock price to decrease before buying - Mention of Spotify as a major European company, with some comparisons to other successful companies Stock tickers discussed: $SPOT, $AAPL
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