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Spotify swings to profit amid boost in paid subscribers
short by Shreya Sur / on Tuesday, 23 April, 2024
Spotify Technology SA, the audio-streaming giant, swung to profit in the first quarter, as the company boosted subscribers and added new features. The shares jumped more than 8% in premarket trading. Paid subscribers rose 14% year over year to 239 million, the company said Tuesday in a statement, in line with analysts' estimates compiled by Bloomberg.
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