The streaming provider Spotify is making a profit again. picture alliance / Sipa USA | SOPA Images
Spotify reports a profit in the first quarter of 2024 thanks to job cuts and price increases. The number of premium users rose by 14 percent to 239 million, and the streaming provider has a total of 615 million monthly active users. Company boss Daniel Ek is planning an operating profit of around 250 million euros in the second quarter.
Spotify made another profit in the first quarter. The reason was, among other things, the reduction of thousands of jobs and price increases for its music offering. Despite increased prices, more people subscribed to the streaming provider’s paid offering in the first quarter of 2024. The number of so-called premium users rose by 14 percent to 239 million compared to the same period last year, as the company announced on Tuesday. In total, Spotify had 615 million monthly active users, almost a fifth more than at the end of March 2023.
Spotify shares on the rise
For the current second quarter, company boss Daniel Ek is confident that he will be able to win more customers for Spotify. The manager also wants to make an operating profit of around 250 million euros between April and the end of June. The positive outlook also seems to be boosting the share price, with the company recording an increase of 135.2 percent over a year.
Spotify stock chart. Finance.net
The reduction of around 1,500 jobs and reduced marketing budgets announced last year had a positive effect on the balance sheet. In the first quarter, the company made an operating profit of 168 million euros. In the previous year, the company reported an operating loss of 156 million euros. The bottom line is that the shareholders now made a profit of 197 million euros, after a loss of 225 million a year earlier. Spotify was still in the red in the final quarter of 2023.
Disclaimer: Stocks and other investments generally involve risk. A total loss of the capital invested cannot be ruled out. The articles, data and forecasts published are not a solicitation to buy or sell securities or rights. They also do not replace professional advice.
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The dollar exchange opens higher in Baghdad and Erbil
2024-04-08T07:26:14+00:00
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/ The exchange rates of the US dollar rose against the Iraqi dinar, on Monday, in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the opening of the stock exchange.
Agency correspondent said that dollar prices rose with the opening of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 148,000 Iraqi dinars for every 100 US dollars, while yesterday, Sunday, prices recorded 147,600 dinars for every 100 dollars.
Our correspondent indicated that selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 149,000 dinars, while the purchasing price reached 147,000 dinars for every 100 dollars.
As for Erbil, the dollar also recorded an increase in banking shops, where the selling price reached 147,700 dinars against the dollar, and the purchase price reached 147,600 dinars against 100 dollars.
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Daily Express: UK set for ‘new generation’ trading partnerships as domestic trade suffers after Brexit
– 2024-04-24 01:27:38
/ world today news/ While the Northern Ireland Protocol harms internal trade and threatens with serious job losses in the United Kingdom, the country after Brexit has turned its attention to the development of foreign trade, writes the Daily Express. Britain is currently negotiating a trade partnership with India and Australia and is preparing to begin work on agreements with Canada and Mexico.
Britain is opening trade talks with a number of foreign countries amid damage to domestic trade caused by the Northern Ireland Protocol (NIR) after Brexit, the Daily Express reports.
UK Foreign Trade Secretary Liz Truss said next week, aiming to “a bright future after COVID-19“, the country will start trade negotiations “from the next generation” with Canada and Mexico. With the help of the agreements reached, the country intends to “harness the potential of the digital revolution to drive innovation and accelerate the pursuit of green growth“.
Britain is also expected to begin work on an agreement with India in the near future. The agreement to improve trading partnerships, London hopes, will achieve the ambitious goal of doubling the kingdom’s total trade by 2030. That figure currently stands at £23 billion a year.
Moreover, now “coming up” free trade agreement with Australia. This is expected to be agreed in the coming weeks.
“The deal will be the first ‘start from scratch’ for the UK after leaving the EU. It will support jobs across the country as it boosts the export of brilliant goods and services and strengthens ties with a friend and ally who shares our values and beliefs,” Truss said.
The country’s foreign trade minister also noted that the UK would become the first member of the Trans-Pacific Partnership without being a founding member, “opening access for British business to 11 vibrant markets in the Pacific region“.
As the Daily Express notes, however, not everyone shares the optimism about future UK deals. More and more Britons fear the damage to trade caused by the Northern Ireland Protocol.
In fact, the Post-Brexit Agreement actually created a trade border with the UK to keep the border with the Republic of Ireland open. Customs checks are currently being carried out at the provisional border between the UK and Northern Ireland as Belfast retains its membership of the EU’s single market and customs area.
The Democratic Unionist Party’s Brexit spokesman Sammy Wilson said the Northern Ireland Protocol had already damaged UK trade and now threatened to cost many jobs.
According to the policy, since the entry into force of the protocol, imports into Northern Ireland from the Republic of Ireland have increased by 28%, displacing trade with the rest of the UK. Wilson insisted on immediately starting work on creating new agreements that would meet the interests of both sides.
Translation: ES
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