I was bearish on Spotify before, as there wasn’t much to distinguish it from the field. Today’s gains have popped it out of that track slightly, putting it up around $119 per share. Ever since April 25, the company has maintained a tight range between $90 and $110 per share. The last 12 months for Spotify shares are still down, though leveling off from where I last discussed the company back in April. It also posted a gain in monthly active users, with 433 million signing in against the 428 million expected. However, SPOT posted a win on revenue, coming in at $2.91 billion against $2.85 billion. The company posted a loss of $0.86 per share, which stacked up poorly against Street projections calling for a loss of $0.72 per share. Spotify’s earnings report was somewhat of a mixed bag. The stock is currently up 14% on the day. Online music vendor Spotify ( SPOT) found that much out after posting missing on EPS but offering a few choice figures in the mix that turned everything around. Sometimes an earnings miss isn’t enough to sink a company.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |