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Spotify Technology SA (NYSE: SPOT ) reported a wider net loss for the fourth quarter of 2022 as the music streaming platform’s revenue rose 18%.
The Swedish-based company reported a total profit of €3.17 billion for the fourth quarter, which is up 18% from the period last year. It had about 489 million monthly active users at the end of the quarter, up 20% from the year-ago period. There was a 14% increase in the number of premium subscribers.
Meanwhile, Spotify posted a net loss of €270 million or €1.40 per share in the December quarter, compared with a loss of €39 million or €0.21 per share in the year-ago period.
Check out this space to read management/analyst commentary on Spotify’s Q4 results
The company also provided revenue and customer guidance for the first quarter of 2023.
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