This is the second time in history that Spotify has posted a quarterly operating profit. Indeed, this profit figure was so substantial, it actually dragged up Spotify’s year-to-date (Jan-Sept) operating profit to €4 million ($4.5 million). In the end, Spotify posted a €54 million ($60.4 million) Q3 operating profit – some thirty times bigger than its predicted highpoint. The streaming company previously forecast to its investors that its operating performance in the three months to end of September would weigh in somewhere between a slender €2 million profit and a €78 million loss. This news not only came as a surprise to the music industry at large, but to Spotify itself.
Spotify, whose losses are an evergreen music-biz talking point, just turned a quarterly profit.
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