Summary by Moomoo AI
Spotify Technology S.A. reported a solid financial performance for the year, with total revenue reaching €13.25 billion, a 13% increase from the previous year. Premium revenue, which accounts for 87% of total revenue, grew by 13% to €11.57 billion, driven by a 15% rise in Premium Subscribers to 236 million. Ad-Supported revenue also saw a 14% increase to €1.68 billion. Gross profit improved by 16% to €3.4 billion, with a gross margin of 26%. Research and development expenses rose by 24% to €1.73 billion, reflecting the company's commitment to innovation. Sales and marketing expenses slightly decreased by 2% to €1.53 billion, while general and administrative expenses dropped by 7% to €585 million. The company's Free Cash Flow was robust at €678 million. Spotify's user metrics showed significant growth, with Monthly Active Users (MAUs) reaching...Show More