Spotify shares fall 14% on revenue miss and weak guidance (2024)

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Spotify shares fall 14% on revenue miss and weak guidance? ›

Shares of Spotify closed down 14% Tuesday after the company released second-quarter results that missed analysts' estimates for revenue and offered weaker-than-expected guidance. Here's how the company did: Loss per share: Loss of 1.55 euros, not comparable to estimates. Revenue: 3.18 billion euros vs.

Shares of Spotify Technology S.A. (NYSE: SPOT) dipped 17.2% in October, according to data provided by S&P Global Market Intelligence. Selloffs for the broader market helped pull the music-streaming company's stock to a lifetime low at the end of the month.

Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff. The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.

An Intrinsic Calculation For Spotify Technology S.A. (NYSE:SPOT) Suggests It's 21% Undervalued.

The stock currently has a Zacks Rank #2 (Buy).

Yes, but: First-quarter net income of $107 million for fiscal 2024 was down more than 66% from $316 million in the same quarter a year ago.

Spotify is unprofitable. Specifically, in Q4 2023, the company reported a net loss of 36 cents per share. Granted, this result beat Wall Street's prediction that Spotify would lose 40 cents per share.

Music streaming giant Spotify (NYSE: SPOT) is on track to achieve full-year profitability in 2024. The Swedish company marked its first profitable quarter in Q1 2024, recording net income (GAAP) of €197 million.

What Is Spotify Technology's Debt? As you can see below, at the end of March 2024, Spotify Technology had €1.27b of debt, up from €1.16b a year ago.

Spotify dominates the music-streaming market, with nearly 600 million monthly active listeners and a 30% market share, but that hasn't translated into turning a profit for the Stockholm-based company.

Is Spotify stock expected to rise? ›

Stock Price Forecast

The 29 analysts with 12-month price forecasts for Spotify Technology stock have an average target of 299.93, with a low estimate of 120 and a high estimate of 400. The average target predicts a decrease of -4.45% from the current stock price of 313.89.

Who owns Spotify? Spotify is owned by a number of individual and institutional investors, including the company's co-founders, Daniel Ek and Martin Lorentzon, and leading investment managers, such as Baillie Gifford.

How much is Spotify's dividend? Spotify (NYSE: SPOT) does not pay a dividend.

A poor internet connection will cause frequent pauses while streaming on Spotify. Follow these tips to rule out a connection issue: Ensure you are connected to the right network. Check the strength of your internet connection and see if you can move around to get a better signal.

Any drop in volume applied by Spotify is a simple drop in gain, and is entirely harmless. That said, if a Spotify Premium user has selected Spotify Loud for their playback, anything coming in quieter than their normalized volume gets a limiter applied to it.