Spotify Technology: User record with a small blemish. The company now proves that audio streaming can be highly profitable.

The stock of music streaming giant Spotify Technology (SPOT) has recently been hit hard. The valuation now appears fairer with a P/E ratio of under 50, as the EPS is expected to more than double in the next two years. Spotify is the world's leading "audio-first" platform operator. The company acts as a central intermediary between content creators (musicians, podcasters, authors) and consumers. Strategically, Spotify is evolving from a pure music streaming service to a comprehensive creator platform for audio and video. By integrating music, podcasts,...