Spotify Technology (NYSE: SPOT) has been delivering music to investors' ears with shares returning more than 55% thus far in 2024.

The audio-streaming giant recently reported its first-quarter results highlighted by strong growth and expanding margins.

The latest trends mark an impressive turnaround compared to the company's volatile history of elusive profitability since its 2018 IPO. Spotify now appears to have finally found the right formula for more consistent earnings which is great news for the stock.

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Source Fool.com