Spotify Margins Hurt by Higher Dollar, Continues to Grow Subscribers and Podcasts

Spotify reported third-quarter earnings that narrowly beat analyst expectations on revenue but missed by $0.15 with a bigger loss than estimated. Spotify’s gross margin in Q3 came in below expectations at 24.7% down 201 bps Y/Y. Shares in SPOT fell 7% in extended trading Tuesday. Spotify came in with higher user numbers than it projected last quarter. The company reported 456 million monthly active users for the quarter, up 20% from the year-earlier period. SPOT posted 195 million paid subscribers, … Continue reading “Spotify Margins Hurt by Higher Dollar, Continues to Grow Subscribers and Podcasts”