Spotify Technology S.A. Announces Financial Results for Third Quarter 2018
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Spotify (SPOT) PT Lowered to $200 at RBC Capital
November 1, 2018 3:40 PM EDTRBC Capital analyst Mark Mahaney lowered the price target on Spotify (NYSE: SPOT) to $200.00 (from $215.00) while maintaining an Outperform rating following in-line Q3 results but slightly lowered its Q4 Premium Subs and Gross Margin guidance.
Keys for the quarter, according to Mahaney:
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Spotify (SPOT) Reports Q3 EPS of EUR0.23
November 1, 2018 6:33 AM EDT(Updated - November 1, 2018 8:19 AM EDT)
(Corrects to show amounts in euro)
Spotify (NYSE: SPOT) reported Q3 EPS of EUR0.23, versus (EUR1.84) reported last year. Revenue for the quarter came in at EUR1.35 billion versus the consensus estimate of EUR1.33 billion.
MAUs grew 28% Y/Y to 191 million at the end of Q3. Growth in our emerging regions of Latin America and Rest of World continues to outpace growth in our more... More