Life is good at Spotify HQ. The streaming giant closed out its first full year of profitability in 2024 while growing listeners to a new record. Just over a year after laying off 1,500 of its workers and parting ways with its CFO in a major efficiency drive, the renewed good feeling at the group might be best epitomized by its new finance chief’s unusually casual attire.
Spotify reported its 2024 full-year earnings on Tuesday, hitting record revenues of €15.7 billion ($16.3 billion) and realizing its first profit of €1.4 billion ($1.5 billion) as it grew monthly active users to 675 million listeners, beating expectations. The results helped Spotify’s share price rise more than 10% in Tuesday morning trading.
