Asian paints limited, Company

New York, Aug 21 Swedish music streaming giant Spotify has announced to spend up to $1 billion between now and April 21, 2026 to repurchase its own shares.The company would commence a stock repurchase programme beginning in the third quarter of 2021."Repurchases of up to 10,000,000 of the Company's ordinary shares have been authorised by the Company's general meeting of shareholders, and the Board of Directors approved such repurchases up to the amount of $1.0 billion. The authorisation to repurchase will expire on April 21, 2026," it said in a statement late on Friday.The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities."The repurchase programme will be executed consistent with the Company's capital allocation strategy, which will continue to prioritise aggressive investments to grow the business," the company added."This announcement demonstrates our confidence in Spotify's business and the growth opportunities we see over the long term," said Paul Vogel, Chief Financial Officer at Spotify."We believe this is an attractive use of capital, and based on the strength of our balance sheet, we continue to see ample opportunity to invest and grow our business."Several tech companies like Apple, Alphabet (Google) and Microsoft, have active share repurchase programmes.In its June quarter, Spotify announced that it now has 165 million premium subscribers and 365 million monthly active users.It's a year-over-year increase of 20 per cent and 22 per cent, respectively, and up from the 158 million subscribers and 356 million MAUs reported in the last quarter."Q2 was a strong quarter for Spotify overall, with the majority of our major metrics performing better than expected," Daniel Ek, Spotify CEO and founder, said.The company, presenting its June quarter earnings, said that it added seven million subscribers in Q2, which drove healthy double digit year-over-year growth across all regions.Spotify also said that the revenue of 2,331 million euros grew 23 per cent year-over-year in Q2 and was toward the top end of guidance range due to significant advertising strength and subscriber outperformance.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Asian Paints LimitedFOLLOW

Asian paints limited, Latest News

Heralding the festive season this year is a unique collection of exquisite wall textures - Taana Baana by Asian Paints Royale Play. Inspired by the heritage of Indian crafts and weaves, Taana Baana is a work of art that will invoke a myriad of emotio ...

iEnergizer, a leading global Business Process Outsourcing (BPO) and IT-enabled services company based in Noida, has been declared a winner in the 2021 edition of Asia's Best Employer Brand Awards, supported by World HRD Congress. ...

The Income Tax department conducted searches on a pharmaceutical company in Hyderabad named Hetero Drugs and seized incriminating documents on Wednesday, sources told ANI. ...

Asian Paints recolours 2021 with their annual Sharad Shamman film that brings to light the true essence of the festival. The endearing film aptly titled, 'Baarir Lok' means 'people of the house'. ...

New Delhi, Oct 5 Future 7-India Convenience Limited, Future Retails wholly owned subsidiary, and 7-Eleven Inc have mutually ... ...

TVS Motor Company registered sales growth of 6% with 347,156 units in September 2021 as against sales of 327,692 units in the month of September 2020. ...

New Delhi, Aug 30 Automobile manufacturer Maruti Suzuki India has planned to raise prices across models in September. ... ...

New York, Aug 21 Swedish music streaming giant Spotify has announced to spend up to $1 billion between ... ...