Spotify's stock drops after revenue rises less than expected, but MAUs beat [MarketWatch]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
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Source: MarketWatch
Spotify's stock drops after revenue rises less than expected, but MAUs beat Shares of Spotify Technology S.A. SPOT, -3.65% slumped 7.4% in premarket trade Wednesday, after the Luxembourg-based streaming music company swung to a surprise fourth-quarter profit, but reported revenue that rose less than expected. Net income was 442 million euro ($503.4 million), or EUR0.36 a share, after a loss of EUR596 million, or EUR3.87 a share, in the same period a year ago. The FactSet consensus was for a loss of EUR0.16 a share. Revenue increased 30% to EUR1.495 billion, below the FactSet consensus of EUR1.501 billion. Monthly active users (MAUs) grew 29% to 207 million, above the FactSet consensus of 203 million, and premium subscribers increased 36% to 96 million, topping expectations of 95 million. The company said its outperformance was largely attributable to better-than-expected intake from its Google Home promotion and its holiday campaign. For the first quarter, the company expects reven
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News
- Spotify CEO says layoffs brought 'more' disruption than expected but were 'right strategic decision' [FOX Business Network]FOX Business Network
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Guggenheim from $290.00 to $350.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at HSBC Holdings plc from $310.00 to $355.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Bank of America Co. from $315.00 to $370.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Barclays PLC from $335.00 to $350.00. They now have an "overweight" rating on the stock.MarketBeat
SPOT
Earnings
- 4/23/24 - Beat
SPOT
Sec Filings
- 4/25/24 - Form 144
- 4/25/24 - Form 144
- 4/24/24 - Form 144
- SPOT's page on the SEC website