Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Spotify Technology SA (NYSE:SPOT) reported upbeat earnings for its fiscal first quarter 2024 on Tuesday.
The company posted revenue growth of 20% year-on-year to $3.95 billion (3.64 billion euros), beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the consensus of 70 cents, according to data from Benzinga Pro.
Premium Revenue grew 20% year over year to 3.25 billion euros, helped by subscriber additions and ARPU increases. Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million , which missed its guidance by 3 million.
Ad-supported MAUs grew 22% Y/Y to 388 million. Premium Subscribers grew 14% Y/Y to 239 million.
Spotify held 4.7 billion euros in cash and equivalents and generated €207 million in free cash flow.
Spotify said it expects second-quarter revenue of 3.8 billion euros (consensus $3.76 billion) and total MAUs of 631 million.
Spotify shares rose 11.4% to close at $303.31 on Tuesday.
These analysts made changes to their price targets on Spotify following earnings announcement.
Now Read This: Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts
Posted In: SPOT