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SPOT Oct 2024 440.000 call

OPR - OPR Delayed price. Currency in USD
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1.15000.0000 (0.00%)
As of 10:19AM EDT. Market open.
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    Spotify's 'year of monetization' yields strong Q2 results

    Spotify (SPOT) beat Wall Street expectations in its second quarter earnings report, achieving record profits amid its cost-saving strategy. Manhattan Venture Partners head of research Santosh Rao joins Catalysts to offer insights into the streaming platform's performance. Rao emphasizes Spotify's success, stating it "hit on every metric" in what he calls its "year of monetization." He highlights the company's effective execution of its turnaround strategy, which includes cost reduction, margin improvement, and subscriber growth. Rao confidently states that for Spotify, "the coast is clear." Notably, despite implementing price increases to its subscription tiers, Spotify saw a rise in subscriber numbers, demonstrating strong platform loyalty. Addressing concerns about potential customer loss due to higher prices, Rao observes that "at this point, it doesn't look like it." He commends Spotify's approach, explaining that price hikes are accompanied by new product offerings, describing it as "a very sensible growth market strategy." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith

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    Spotify stock jumps after reporting record profit, strong guidance amid turnaround plan

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