Music streaming company Spotify (NYSE: SPOT) reported a 17% jump in Q4 revenue to €2.17Bil, helped by strength in both the Premium and Ad-supported segments. The increase in topline helped the firm cut down losses by around 40%.
Meanwhile, investors were unimpressed by a further 8% decrease in average revenue per user during the quarter. The stock fell close to 6% immediately following the announcement. The Swedish company’s shares have more than doubled in the trailing 12 months.
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