Spotify Technology Q2 2024 Earnings Summary $SPOT
In the latest episode, we delve into Spotify Technology's impressive Q2 2024 earnings call, where CEO Daniel Ek revealed the company's highest-ever free cash flow and three consecutive quarters of profitability. With 7 million net new subscribers added, Spotify surpassed growth forecasts, bolstered by new subscription tiers and audiobook access. Despite a slight dip in Monthly Active Users, Ek remains optimistic about recovery, particularly in developing markets, while CFO Ben Kung reported a 21% year-on-year revenue growth to €3.8 billion and a record gross margin of 29.2%. Looking ahead, Spotify targets 639 million MAUs and €4 billion in revenue for Q3, alongside plans for a new ultra-premium tier. Tune in for insights on Spotify’s strategic path to sustained growth in a competitive landscape.
