Spotify quarterly revenue beats on paid users, ad rebound
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Spotify (SPOT) Gets Two Upgrades as Yesterday's Selloff Yielded Attractive Opportunity
July 29, 2021 10:24 AM EDTSpotify (NYSE: SPOT) received two stock upgrades today to see its shares trade nearly 1% higher.
Yesterday, the company reported that podcast listening surged 30% among those users that already listen to podcasts. As a result, podcast ad revenue soared by 627%.
The continued outperformance is currently limited only by the availability of our inventory, which is something were actively solving for, said CEO Daniel Ek.
The days of our ad business accounting for less than 10% of our total revenue are behind us, and going forward, I expect ads to be a... More
