The streaming giant expands its repurchase authorization to $2.223B after utilizing $723M of its prior program.
Spotify Technology has approved an additional $1.5B for its share repurchase program. The move raises the total authorization to approximately $2.223B, up from $723M remaining under the previous plan.
The company had previously allocated funds for buybacks but had not fully utilized them. This increase signals confidence in its cash flow and share valuation amid ongoing competition in the streaming sector.
No immediate market reaction was disclosed in the announcement.