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Excuse me, but Spotify is not profitable, or I miss something?

"For the years ended December 31, 2015, 2016, and 2017, we incurred net losses of €230 million, €539 million, and €1,235 million, respectively"

How is it better than Twitter?

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I haven't reviewed yet but from the synopses above, it sounds like they are generating FCF / are cashflow positive? "Profitability" can mean many things (FCF, NI, EBIT, EBITDA, OIBA, GAAP-figures, non-GAAP, etc)... But cash is king in reality so FCF generating isn't a bad meaning here.

Their net cash flow from operations is increasing, but they have negative cash flow from some investing activities (licensing music? buying startups?), which makes total cash flow negative.

EBIDTA is also negative.

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