this post was submitted on 04 Jun 2024
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1016
Spotify has raised prices for the second time in a year, with no new benefits, after its CEO sparked outrage by claiming the cost of creating 'content' is 'close to zero' (www.techradar.com)
submitted 6 months ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world
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[–] bolexforsoup@lemmy.blahaj.zone 4 points 6 months ago* (last edited 6 months ago) (2 children)

If it’s profit it’s net by definition. Gross can’t be profit. You’re thinking of revenue. Gross is total revenue before any costs deducted.

[–] JackbyDev@programming.dev 2 points 6 months ago (1 children)

You may need to realign your usage of phrases. Their 2024 Q1 financial statement has a line for "gross profit" and "net income/(loss) attributable to the owners of the parent."

[–] bolexforsoup@lemmy.blahaj.zone 1 points 6 months ago* (last edited 6 months ago) (1 children)

I’m going off the number from the article that your dude linked. The guy said “€58 million in profit.” Totally possible he’s wrong though.

[–] JackbyDev@programming.dev 2 points 6 months ago

I'm just saying there is a difference between "gross profit" and "net profit" because their official financial statement differentiates between it.

[–] cyberpunk007@lemmy.ca 1 points 6 months ago (1 children)

I dunno, my QuickBooks shows me gross and net profit. Gross profit is your income after you remove cost of goods sols (COGS). Net profit is what the org nets after everything else like payroll and other expenses.

[–] bolexforsoup@lemmy.blahaj.zone 1 points 6 months ago

Yeah you right. Don’t bake and lemmy, folks