Apple investors should look at Spotify and shudder

As smartphone sales hit a wall, the softer ‘services’ side of the tech giant’s business holds out the promise of fatter profits. But it’s not going to be an easy option, writes Shira Ovide

11th March, 2018

Apple investors eager for higher profit margins should read Spotify’s latest financial disclosures, and should have a few antacids handy when they do.

The company’s document for its public stock listing highlights how tricky it is to turn a profit in digital music. Spotify Technology SA’s gross profit margins drastically improved last year thanks to new contracts with the record labels, but the company is still doling out 75 to 80 cents of...

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