Spotify turns higher after healthy user gains [Seeking Alpha]
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: Seeking Alpha
After a brief decline earlier this morning, Spotify (NYSE: SPOT ) is following largely in-line Q2 earnings where eyes were on its subscriber race with Apple Music. Monthly active users hit 180M (up 30% Y/Y) and Premium subscribers reached 83M (up 40%) -- that against Apple's April report of 40M paid users. Family plans continue to be a primary driver of adds on premium subs, the company says, as well as lower churn due to strong retention. Revenue that grew 27% was up 34% adjusting for foreign exchange. Premium revenue was €1.15B of a total figure of €1.273B. Average revenue per user dropped 12% Y/Y to €4.89, weighed by growth in family and student plans as well as faster-growth in lower-ARPU geographies. Operating loss of €90M included €30M in cash tied to the company's direct-listing IPO, and €32M in accrued social costs for options and restricted stock units. Net cash flow from operations was €30M; free cash flow was €18M. It narrowed its full-year
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SPOT
News
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Loop Capital from $165.00 to $250.00. They now have a "hold" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Macquarie from $300.00 to $330.00. They now have an "outperform" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Morgan Stanley from $270.00 to $350.00. They now have an "overweight" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Canaccord Genuity Group Inc. from $315.00 to $330.00. They now have a "buy" rating on the stock.MarketBeat
- Spotify Technology S.A. (NYSE: SPOT) had its price target raised by analysts at Benchmark Co. from $290.00 to $325.00. They now have a "buy" rating on the stock.MarketBeat
SPOT
Earnings
- 2/7/24 - Miss
SPOT
Sec Filings
- 4/17/24 - Form 6-K
- 4/4/24 - Form 6-K
- 3/7/24 - Form 144
- SPOT's page on the SEC website