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”
Spotify is ‘Music for Everyone’ but will it be music for investors? The world’s biggest streaming music provider went public Tuesday. Spotify will trade on the NYSE under the ticker $SPOT.