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Spotify To Reward Shareholders With Fresh Share Buyback Up To $1B

Spotify Technology SA (NYSE:SPOT) has announced the board’s approval to buy back shares up to $1 billion. It will begin…
byAnusuya Lahiri
August 20, 2021
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  • Spotify Technology SA (NYSE:SPOT) has announced the board’s approval to buy back shares up to $1 billion.
  • It will begin the share repurchases from Q3 of 2021.
  • Last month the Spotify’s stock price fell after reporting weaker ARPU and MAU during Q2.
  • Spotify held €3.1 billion in cash and equivalents at the end of Q2 and generated €54 million in operating cash flow.
  • Spotify stock has lost 34.8% year-to-date.
  • Price Action: SPOT shares are up by 1.13% at $207.40 premarket on the last check Friday.
 
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