Spotify said it is not experiencing any negative effects from blowback over podcast hosts like Joe Rogan, with the company’s first-quarter results exceeding Wall Street forecasts. The Stockho…
The Stockholm-based audio giant swung to earnings of 24 cents a share compared with a loss of 30 cents a year ago. Revenue inched up to $2.8 billion from $2.6 billion. Both top and bottom line figures came in well ahead of analysts’ forecasts.and CFO Paul Vogel both maintained the company’s podcast business has never been stronger.
“For investors, structurally, podcasting should be a better business model than music, from a gross margin perspective,” Ek said. “We feel really good about the investments we’re making and the long-term implications they will have on our business and our shareholders.”
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