Spotify Technology S.A. Announces Financial Results for Second Quarter 2020
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July 29, 2020 12:54 PM EDT
RBC Capital analyst Mark Mahaney raised the price target on Spotify (NYSE: SPOT) to $330.00 (from $320.00) while maintaining a Outperform rating following results.
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July 29, 2020 6:11 AM EDT
Spotify (NYSE: SPOT) reported Q2 EPS of (EUR1.91), versus (EUR0.42) reported last year. Revenue for the quarter came in at EUR1.89 billion versus the consensus estimate of EUR1.67 billion.
Our business performed well in Q2 and continues to operate at a high level despite the continuing uncertainty surrounding the COVID-19 pandemic. Excluding the impact of social charges related to the increase in our share price during Q2, all of our key metrics would have finished at or ahead of our expectations. Our liquidity position and Free Cash Flow remain strong, and we... More
