Spotify stock falls on weak quarterly report and guidance – NYSE: SPOT
Despite record quarterly user growth to 551 million and Monday’s price increase in 50 countries, investors dove Spotify stock down as much as 6.1% in pre-market trading Tuesday. Here’s an update.
Spotify reported revenue of €3.18/$3.41 billion, below analyst forecasts of €3.21/$3.55 billion. Full-year revenue guidance was also worse than analysts expected. The streamer also sent mixed signals about whether the recent subscription price increases would slow paid user growth.
As of 8:30 AM Tuesday, Spotify stock was at $154.02, down $9.70 or -5.92% in premarket trading.
MORE
Spotify users jump 27% to 551M, and subscribers up 17% to 220M [NYSE: SPOT]
Spotify confirms price increases in 50 countries
Share on:
Earn money simply by working online. You are free to work from home whenever you choose. You may earn more than $600 per day working only 5 hours per day online. I made $18,200 with this in my spare time.
.
.
Detail Here——————————————>>> http://simplework11.blogspot.com