Spotify To Reward Shareholders With Fresh Share Buyback Up To $1B

Spotify Technology SA SPOT has announced the board's approval to buy back shares up to $1 billion.
It will begin the share repurchases from Q3 of 2021.
Last month the Spotify's stock price fell after reporting weaker ARPU and MAU during Q2.
Spotify held €3.1 billion in cash and equivalents at the end of Q2 and generated €54 million in operating cash flow.
Spotify stock has lost 34.8% year-to-date.
Price Action: SPOT shares are up by 1.13% at $207.40 premarket on the last check Friday.