Spotify Reports Record Q1 Profits 📱GL R 📈 LKQ JBLU 📉

FlowBank's hand-curated fresh financial news [header_noDither] Spotify Reports Strong Q1 Earnings Amid Cost-Cutting Measures Spotify announced record quarterly profit in Q1, surpassing expectations with earnings of 97 euro cents per share and revenue of €3.64 billion, driven by extensive cost-cutting, including significant layoffs. Despite a slight miss on Monthly Active Users (MAUs) estimates, the company's shares rose over 10%. Looking ahead, Spotify expects further MAU growth and improved gross margins, backed by business-wide cost efficiencies and a continued strategic focus as outlined in their 2022 Investor Day. WHAT'S MOVING [Group 1742 (74)-1] [Start Trading](113/cXx8Z04/MWzySRJl0FzV19zsb4b5TfhW4sKGqD5dghHgN4FBQLW2-ZVTW6N1vHY6lZ3lxW8Sxxxc85N_LPW8GfTK3978FRlW2m50Rg1Hf3zMW5T8fLj1m9m8VW26hvJM7mYM95W6gFbqF3FWfhQW4V9rTV4WRJK4VFxRn147rHJfN1d68T3X9zpRW37QkY01Qbp-NW1Vjhdv460JnxN6nX06vJxbBHW1br-rz6jdxm1W8SDwZT69BxqkVYJ4yH2XkKHgW3-1TXV3F3vsNW6CXWJj80tgm2W70_Cv54bnvQMW3zjFxW19pvdjW15jlsS27RfMhN7Dk40kyjy-_N7CfGnz86CwMf2xnB2s04) [Group 1753 (23)] HashiCorp HashiCorp shares surged nearly 20% amid rumors of IBM's acquisition plans; the company previously reported a 23% revenue increase to $583 million in its fiscal year. [Group 3 (72)-1] Apple Apple iPhone sales in China fell 19.1% as Huawei's sales soared by 69.7%, propelled by the launch of its Mate 60 smartphone. [Group 1753 (21)] Tesla Tesla's shares increased by 13% after announcing plans to start production of affordable EVs by early 2025, despite a 9% revenue drop to $21.30 billion in Q1. WHAT'S COMING UP? USD: Durable Goods Orders (MoM) (Mar): Exp. 2.5% v Prev. 1.3% USD: Crude Oil Inventories: Exp. 1.600M v Prev. 2.735M IN OTHER NEWS Wall Street S&P 500 futures rose slightly by 0.4%, with investors reviewing recent corporate financial reports. Nasdaq 100 futures saw a larger increase of 0.7%, and Dow Jones Industrial Average futures also gained, rising 0.2%. [Group 1769] Europe European markets are poised for a positive opening on Wednesday, continuing the week's gains. Tuesday saw regional stocks, including the UK's FTSE 100, close higher, reaching new intraday records amid positive global market trends and keen investor interest in tech earnings. MARKET INSIGHTS Dollar Faces A Make Or Break Moment The U.S. dollar is undergoing a consolidation phase following its strongest performance in over a year earlier this month, driven by a rush to safe-haven assets amidst geopolitical tensions in the Middle East. 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