Spotify stock reached a record-high $465 per share following the company's impressive Q3 2024 earnings report, marking a 146% increase since the start of 2024.

Key Q3 2024 Financial Highlights:

• Revenue: $4.22 billion (€3.99 billion)
• Operating income: $480.58 million (€454 million)
• Paid subscribers: 252 million (12% YoY growth)
• Subscription revenue: $3.73 billion (21% YoY growth)
• Ad revenue: $499.36 million (6% YoY growth)

Geographic Distribution:

• 55% of monthly active users are outside Europe and North America
• Europe and North America account for 65% of paid subscribers

Q4 2024 Projections:

• Target of 260 million subscribers (+8 million)
• Expected revenue of $4.34 billion
• Projected operating income over $509.28 million

Long-term Outlook:

• Company remains on track for its first full year of profitability in 2024
• Targeting $100 billion in annual revenue by 2032
• Expanding into audiobooks with strong user engagement
• Planning significant video content expansion
• Developing new features to enhance artist-fan connections

Spotify's success stems from strategic operational changes, including price increases, programming adjustments, and targeted layoffs, resulting in improved profitability and continued user growth across global markets.

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