this post was submitted on 04 Jun 2024
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Honestly €56 million in profit seems small for an operation as massive as Spotify that has so throughly saturated the market. That does not make it excusable at all. I’m just surprised to see that number.
But is that net or gross?
If it’s profit it’s net by definition. Gross can’t be profit. You’re thinking of revenue. Gross is total revenue before any costs deducted.
You may need to realign your usage of phrases. Their 2024 Q1 financial statement has a line for "gross profit" and "net income/(loss) attributable to the owners of the parent."
I’m going off the number from the article that your dude linked. The guy said “€58 million in profit.” Totally possible he’s wrong though.
I'm just saying there is a difference between "gross profit" and "net profit" because their official financial statement differentiates between it.