"Revenue for the quarter was $2.09 billion, reflecting a 1% year-over-year increase, primarily driven by growth in both subscriber numbers and advertising revenue streams."
"Net income for the period was reported at $245 million, marking a significant 20% increase compared to the previous year, with earnings per diluted share advancing to $0.72."
"The company achieved a record low churn rate of 1.5% in the first quarter, indicating improved customer retention and satisfaction levels."
"Free cash flow surged to $171 million, more than tripling year over year, largely due to higher adjusted EBITDA and a reduction in capital expenditures."
Revenue reached $2.09 billion, a 1% increase year over year, fueled by subscriber and advertising growth. Subscription revenue was $1.6 billion, also up 1%, aided by a price hike. Advertising revenue rose 3% to $407 million, with podcasting ad revenue increasing by 37%. Adjusted EBITDA grew 6% to $666 million, and net income rose 20% to $245 million. Free cash flow tripled to $171 million. Self-pay net additions were negative 111,000, but churn reached a record low of 1.5%. Average revenue per user increased to $14.99, up 1% year over year.
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