Spotify, the leading music streaming app has crossed an important milestone with its music streaming business. The company for the very first time is reporting that it’s turned a profit.
It has taken the company over 13 years and 96 million paid subscribers to hit the milestone.
According to the financial announcement, theOperating Income, Net Income, and Free Cash Flow were all positive. The company made an operating profit of €94 million, or about $107 million.
The company also announced hat it had a total of 207 million monthly active users in total this past quarter.
However, there are some bad news. The company is forecasting a loss of €50 to €100 million (about $57 to $113 million) next quarter and €200 to €360 million (about $227 to $409 million) over the full year.