Music streaming platform Spotify Technology (NYSE: SPOT) reported a profit for the fourth quarter of 2024, compared to a loss last year, aided by a double-digit increase in revenues.
Total revenue increased to EUR4.24 billion in the fourth quarter from EUR3.67 billion in the prior-year period. The company had 675 million monthly active users at the end of the quarter, up 12%.
Net income attributable to the company was EUR367 million, or EUR1.76 per share in Q4, compared to a loss of EUR70 million or EUR0.36 per share in the corresponding quarter last year. For the first quarter of 2025, the company expects total revenue of EUR4.2 billion and total MAUs of 678 million.