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  "documentTitle": "Spotify | Results Presentation Deck | 34 slides",
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  "authorName": "Spotify",
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  "presentationDate": "2024-11-01 00:00:00",
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  "notes": "Includes non-IFRS disclaimer at the bottom.",
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      "text": "* Constant Currency adjusted measures and Free Cash Flow are non-IFRS measures. See \"Use of Non-IFRS Measures\" and \"Reconciliation of IFRS to Non-IFRS Results\" for additional information. ** Includes employees impacted by workforce reductions that remained on garden leave.",
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      "text": "Revenue of €3,988 million grew 19% Y/Y in Q3 (or 21% Y/Y constant currency*), reflecting: Premium Revenue growth of 21% Y/Y (or 24% Y/Y constant currency*), driven by subscriber gains and ARPU increases; and Ad-Supported Revenue growth of 6% Y/Y (or 7% Y/Y constant currency*). Unfavorable currency movements affected Total Revenue Y/Y growth by ~270 bps vs. guidance for ~100 bps",
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      "text": "Gross Margin was 31.1% in Q3, up 473 bps Y/Y reflecting: Premium gains driven by music and audiobooks; and Ad-Supported gains driven by music and podcasts. Other Costs of Revenue favorability benefited both the Premium and Ad-Supported segments. Operating Income was €454 million in Q3 and reflected: Lower personnel and related costs and lower marketing spend, partially offset by €54 million in Social Charges. At the end of Q3, our workforce consisted of 7,242 full-time employees** globally",
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      "text": "Free Cash Flow* was €711 million in Q3. Our liquidity and balance sheet remained strong, with €6.1 billion in cash and cash equivalents, restricted cash and short term investments.",
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