Spotify Posts Q3 EPS of EUR2.48 as Earnings Season Opens
SPOT sits 29% above its 52-week low of $405.
Summary
Spotify reported third-quarter EPS of EUR2.48, revenue of EUR4.97B, ad-supported revenue of EUR482M and premium revenue up 17%. The EPS number lands against a Q2 that missed on both lines — EPS of EUR2.61 versus EUR2.76 expected and revenue of EUR4.78B versus EUR4.79B — so the bar into this print was already lowered. Management guided Q3 revenue to about EUR5B in August and has been shifting emphasis from MAU growth to monetization, with opex up 19% year-over-year in Q2. For the fourth quarter, Spotify sees revenue of EUR5.2B, a gross margin of 33.8% and operating income of EUR820M.
At the time of this announcement, SPOT was trading at $522.00 on NYSE in the Technology sector, with a market capitalization of approximately $108.2B. The 52-week trading range was $405.00 to $696.95. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.