Nigeria, Feb. 4 -- Spotify's shares surged 10% on Tuesday following the company's announcement of its first full year of profitability, marking a significant milestone in its financial journey.

The Luxembourg-based streaming giant reported a net income of 1.14 billion euros for the year, underscoring its successful shift towards sustainable growth amidst an increasingly competitive industry.

Strong Financial Performance

According to Spotify's fourth-quarter earnings report, the company posted revenue of 4.24 billion euros, surpassing the 4.19 billion euros anticipated by analysts at LSEG. Although earnings per share came in slightly below expectations at 1.76 euros versus the projected 1.99 euros, the overall financial results were rob...