Spotify‘s market value surged to a record $124 billion on Tuesday (February 4) after its stock reached an all-time high, fueled by its first-ever full year of operating profit. Speaking to analysts during an earnings call on Tuesday,

Spotify Technology stock was rising Tuesday after the audio streamer said it had added more subscribers than Wall Street was expecting over the fourth quarter, helping revenue to top estimates. The stock climbed 12% to $612.

Spotify (SPOT) shares are jumping around 8% in premarket trading Tuesday, after the Swedish audio streaming giant posted its first full-year profit and quarterly revenue that beat estimates. “Spotify hit some huge milestones,

Spotify shares climbed 10% after the music streaming company recorded its first full year of profitability. The company said it paid a record $10 billion in royalties to the music industry in 2024.

Price increases and cost discipline helped the audiostreaming giant pivot from heavy spending on growth to sustained profits.

Spotify Technology SA posted another quarter of better-than-expected subscriber growth in the fourth quarter, helping the Swedish music company record its first-ever annual profit.