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

Spotify said in November that it was on track to hit its profitability milestone. Total yearly revenue grew to €15.6 billion (about $16.1 billion) from the €13.2 billion (abou

Spotify reportedly posted a quarterly profit of about €367 million (about $380 million) last quarter, a massive jump from a net loss of €70 million the year before (per TheWrap). That contributed to a total annual profit of €1.14 billion (about $1.18 billion) for the year.