Gross margin finished at 26.5% in Q4, flat versus the prior year period. Premium gross margin was 29.2% in Q4, and ad-supported gross margin was 10.8%, or flat. Operating expenses totaled €719 million, an increase of 12% year over year. Revenue of €2,689 million grew 24% year over year in Q4 (or 20% on a constant currency basis), which the company said was due to “significant strength in advertising and favorable FX movements.” Premium Revenue grew 22% to €2,295 million (or 18% constant currency) while ad-supported revenue grew 40% year over year to €394 million (34% constant currency). 2) at $191.92/share.Ĭlick here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.
That’s after shared closed down 5.8% Wednesday (Feb. In after-hours trading, Spotify stock was down 10%, erasing gains from a bullish analyst upgrade earlier this week. However, it quickly recovered on Monday - not after co-founder/CEO Daniel Ek announced on Sunday that the company would institute warnings and links to health information on podcasts that talked about Covid-19, but rather after Rogan himself posted a 10-minute video in which he agreed with Spotify’s new policies and would work to bring people on his show with broader perspectives.
Spotify’s market capitalization fell about $2.1 billion over a three-day span last week after Young pulled his songs from the audio-streaming giant.
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