Date: 7 months ago   Category: Hi-Tech

Spotify has for the first time reported on profit following the results of a quarter


But plans to return to losses. Spotify has reported on $48,7 million profit in the third quarter 2018 - it is the first profit of the company for all history. In the third quarter 2017 the company has reached a loss in $83,3 million. The company has finished quarter without loss thanks to the investments into the Chinese strimingovy Tencent Music service. In Spotify have explained that have received $142 million tax benefit because of changes of cost of the share in Tencent Music. Earlier Spotify said that profit in the third quarter will be one-time: most likely the company will return to losses next quarters, Wsj.Vyruchka Spotify writes has grown by 31%, to $1,54 billion, the number of paid subscribers of service has grown to 87 million people, and number of active users - 191 million a month. Spotify Reports Profit but Tempers Outlook for New Subscribers

Spotify Technology posted its first-ever profit in the latest quarter, thanks to its investment in Chinese...

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