Music, Earnings, Sweden, Streaming, Spotify

Music, Earnings

Spotify posts small third quarter profit | Malay Mail

Spotify posts small third quarter profit | Malay Mail

27/10/2021 4:40:00 PM

Spotify posts small third quarter profit | Malay Mail

STOCKHOLM, Oct 27 — Swedish music streaming service Spotify today posted a net profit of €2 million (RM9.6 million) in the third quarter, just the sixth time it has turned a quarterly profit since being listed in 2018. The number of active users rose by 19 per cent from a year ago to 381...

channel for the latest updates.STOCKHOLM, Oct 27 — Swedish music streaming service Spotify today posted a net profit of €2 million (RM9.6 million) in the third quarter, just the sixth time it has turned a quarterly profit since being listed in 2018.The number of active users rose by 19 per cent from a year ago to 381 million at the end of September, while paying subscribers — Spotify’s main source of revenue — also rose by 19 per cent to 172 million, the group said.

Shahrizat's daughter appointed as MDEC director BN to sit out of Sarawak polls, backs GPS Penduduk dunia akan hadapi 'tsunami long Covid' 3 ke 5 tahun lagi - Utusan Digital

The results were in line with Spotify’s and analysts expectations. In July the company said it expected to have to 377 to 382 million active users and 170 to 174 million paying subscribers.The company, which is based in Stockholm but listed on the New York Stock Exchange, said it hoped to have at least 400 million users and 177-181 paying subscribers by the end of the year.

For the period July-September, the company’s €2 million profit was much stronger than analysts’ forecast of a net loss.In the same quarter last year, the company posted a loss of €101 million, largely due to higher operating expenses.“We saw another quarter of significant advertising strength, and user engagement metrics across many markets showed encouraging signs of growth,” the group said. headtopics.com

Sales for the period jumped by almost 27 per cent from a year ago to €2.5 billion.Spotify has never turned a full-year profit since being listed in 2018.In 2020, the company tripled its full-year net loss to €581 million, mainly due to its strong share price as it has a share-based employee remuneration system. — AFP

Read more: Malay Mail »

Dec 7 for hearing of Najib’s bid to adduce new evidence in SRC appeal

KUALA LUMPUR: Datuk Seri Najib Razak’s application to allow new evidence to be adduced in his appeal over his 12 years’ jail sentence and a fine of RM210mil for misappropriating RM42mil SRC International Sdn Bhd funds, will be heard a day before the Court of Appeal deliver its verdict.

Hazard double sends Dortmund past Ingolstadt into German Cup third round | Malay MailBERLIN, Oct 27 — Borussia Dortmund substitute Thorgan Hazard scored twice to guide the German Cup holders to a 2-0 home victory over Ingolstadt on Tuesday as they moved into the third round. The Belgian broke the deadlock with a clever tap-in from a Julian Brandt pass in the 72nd minute just...

Twitter posts US$537m net loss over lawsuit payout | Malay MailSAN FRANCISCO, Oct 27 — settling a lawsuit alleging investors were misled about slowing user growth. Despite revenue rising sharply with the help of robust ad sales, Twitter still posted an operating loss of US$743 million (RM3 billion), fuelled by the more than US$800 million settlement. The... $FB is still the dominant one. No reason not to buy the dip.

Verstappen has stronger hand in F1 title thriller, says Hamilton | Malay MailAUSTIN, Oct 25 — Lewis Hamilton will not give up his world crown lightly, but the seven-time Formula One champion says the thrilling title duel with Max Verstappen could swing further away from him in the next two races. Hamilton trails the effervescent Dutch driver by 12 points after finishing...

EU demands immediate release of Sudanese leader, cabinet members | Malay MailBRUSSELS, Oct 25 — The European Union condemned the detention of Sudan’s Prime Minister Abdalla Hamdok and other cabinet members today and urged their immediate release after the country’s military chief dissolved the transitional government. “We call on the security forces to immediately...

Italy reports 30 coronavirus deaths today, 2,535 new cases | Malay MailMILAN, Oct 25 — Italy reported 30 coronavirus-related deaths today against 24 the day before, the health ministry said, while the daily tally of new infections fell to 2,535 from 3,725. Italy has registered 131,856 deaths linked to Covid-19 since its outbreak emerged in February last year, the...

Swiatek, Badosa to make WTA Finals debut next month | Malay MailLONDON, Oct 25 — Poland’s Iga Swiatek and Spaniard Paula Badosa will make their WTA Finals debut next month after booking their spots for the season-ending tournament in Guadalajara, Mexico, the women’s tour said today. Swiatek, last year’s French Open champion, made at least the fourth...