The company created above its projections.
The company grew above its projections.
At the beginning of the year, the company obtained positive results in revenue and number of users.
Find the validation of The Lie Buster at the end of the news.
Spotify’s monthly active users grew by 22% compared to the previous year, reaching 515 million, 15 million above their projections. The company states that this is the strongest quarter since it went public in 2018.
(Also read: Ecopetrol falls on the stock market, after the announcement of no more exploration contracts)
At this beginning of the year, Spotify reported revenues of 3,000 million euros, a growth of 14 percent over the previous year. For its part, the operating loss exceeded the forecast by 38 million euros and the business lost 57 million euros in free cash flow.
(You might be interested: Colombians trust companies and not the government, according to the Edelman survey)
Spotify grows in the first quarter of 2023
Regarding the number of premium subscribers, the company grew 15 percent compared to the previous year, reaching the number of 210 million users, 3 million above forecast.
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The regions that presented the highest performance were Europe and Latin America. 21 percent of users and premium users belong to the latter, according to reports.
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