Spotify wants to buy back up to $1bn of its stock
Spotify is launching a stock repurchase program in Q4 2018, in which it hopes to buy back up to $1 billion worth of its stock (10,000,000 of its ordinary shares). According to a statement issued by Spotify today, the move was approved by the the company’s general meeting of shareholders and the Board of Directors. The repurchase program expires on April 21, 2021 but the company has included a disclaimer in its statement saying that the “program may be suspended or discontinued at any time at the company’s discretion”. It also adds that the repurchase programme “does not obligate the company to acquire any particular amount of ordinary shares”. Rhoda Scott - Victoire d'Honneur de la Musique - Album "Blanc casse" Spotify’s indication of its intention to buy back $1bn worth of stock comes less than a week after its Q3 2018 earnings announcement, in which it revealed that it had turned a net profit for the first time in its history Spotify also confirmed th...