Spotify stock price jumps as Daniel Ek’s ‘year of monetization’ begins with record profits

The music streaming service said in its Q1 2024 earnings report that users, subscribers, and revenue were all up double digits. Spotify shares (ticker: SPOT) are spiking in premarket trading as of the time of this writing. The stock price jump comes after Spotify reported Q1 2024 results, with the company boasting that it achieved record profitability in the quarter. Currently, Spotify shares are trading up nearly 6.5% to just above $290 per share....