Reported about 12 hours ago
Spotify's stock has soared from below $80 at the end of 2022 to nearly $500 today, marking a dramatic turnaround in just two years. This resurgence follows significant changes within the company, including mass layoffs, C-suite changes, and a strategic shift away from podcasting. As Spotify achieved its first full-year profitability and a market cap of $100 billion, it improved its gross margin to 31.1% and implemented aggressive cost-cutting measures. These actions, along with successful price hikes and the introduction of new audiobook offerings, have positioned Spotify for continued growth and profitability.
Source: YAHOO