) are jumping after the company posted second quarter earnings, revealing of paid subscribers grew by 12% year-over-year. The company posted record profit after raising prices and trimming headcount.) shares are also moving slightly higher in early trading after posting second quarter results that topped analyst estimates. The company also raised its full-year guidance for revenue growth, operating profit, and earnings per share.
And this comes after Spotify announced several price hikes this year and reduced its head count to cut back on costs that leading to this profitability narrative being able to continue for the company. GE Aerospace became an independent company in early April when it was spun off from its energy businesses to become GE Verona.