Spotify Beats Subscriber Target But Sees Usage Changes During Pandemic [Investor's Business Daily]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: Investors Business Daily
Related news Streaming music leader Spotify Technology ( SPOT ) on Wednesday reported more subscribers than expected in the first quarter despite changes in consumer listening behavior during the coronavirus pandemic. The Spotify earnings report drove SPOT stock higher in early trading. The Stockholm-based company lost the equivalent of 22 cents a share on sales of $2.04 billion in the March quarter. Spotify reports financial results in euros. Analysts expected Spotify to lose 52 cents a share on sales of $2.01 billion, according to S&P Global Market Intelligence. In the year-earlier period, Spotify lost 89 cents a share on sales of $1.67 billion. Spotify ended the first quarter with 130 million premium subscribers worldwide, up 31% year over year. Analysts were modeling 129 million paying subscribers. It reported 286 million total monthly active users, topping estimates for 284 million. In addition to a paid tier, Spotify offers an advertising-supported service. "Despite the global u
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SPGI
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