Spotify had a really strong Q3’24 report.
Growth in users to 640 million (especially outside Europe and the US) and subscribers to 252 million combined with price increases and cost control drove strong financial results, including 300 million euros in net income after tax (well above 1 billion euros in annual net income, which is a big number).
For the quarter I found passing 252 million subscribers (likely matched only by Netflix) and having the gross margin (i.e. Spotify’s share of revenue) above 30 % to be the two most noteworthy metrics.
