Spotify Shares Surge After Posting a Surprise Profit on Higher Prices and Cost Cuts
Spotify posted a surprise profit and exceeded revenue estimates as it raised prices and reduced expenses.
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Spotify posted a surprise profit and exceeded revenue estimates as it raised prices and reduced expenses.
Spotify Technologies added a record quarterly number of new users to its streaming music platform, but its loss, sales, and guidance came in worse than expected after its efforts to cut costs, and shares tumbled.
Beaten-down tech stocks Nvidia, Meta Platforms, and Salesforce returned with vigor during the first quarter of 2023.
Hopping on the bandwagon of firing employees, a report has claimed that Spotify will also be laying off some of its employees this week.
I took advantage of the continued sell-off in the stock market to add more shares of companies with great long-term growth potential.