Spotify (SPOT) Stock Gains on Rising Revenue and 19% Increase in Paid Subscribers
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Spotify adds more subscribers, podcasts fuel ad rebound
October 27, 2021 6:10 AM EDTBy Supantha Mukherjee
STOCKHOLM (Reuters) -Spotify Technology SA beat Wall Street estimates for third-quarter revenue as more paid subscribers signed up for its premium service and advertisers lined up to air ads in between music and podcasts.
Premium subscribers, which account for most of the company's revenue, hit 172 million, just beating analysts' expectations of 171.7 million.
Total monthly active users rose 19% to 381 million.
Spotify earns from subscriptions and by presenting adverts to non-paying members. Revenue from ads, which fell at the height of the... More
Spotify (SPOT) Reports Q3 Loss of EUR0.41/sh
October 27, 2021 6:09 AM EDTSpotify (NYSE: SPOT) reported Q3 EPS of (EUR0.41), versus (EUR0.58) reported last year. Revenue for the quarter came in at EUR2.5 billion, versus EUR1.98 billion reported last year.
Total MAUs grew 19% Y/Y to 381 million in the quarter, up from 365... MoreSpotify (SPOT) Trends Appear to be Improving, Morgan Stanley Reiterates $325 PT Ahead of Earnings
October 26, 2021 7:05 AM EDTMorgan Stanley analyst Benjamin Swinburne reiterated an Overweight rating and $325.00 price target on Spotify (NYSE: SPOT) on the belief that management can re-accelerate user growth and drive gross margin expansion near-term. Indications of a resurgence include app download trends
improving in 3Q and total... More
Spotify (SPOT) 3Q Data Points to Improving Trends, UBS Reiterates $240 PT
October 25, 2021 6:59 AM EDTUBS analyst Eric Sheridan reiterated a Neutral rating and $240.00 price target on Spotify (NYSE: SPOT) on the belief that 3Q results should highlight improved sign-up activity and engagement, over prior quarters, alleviating some fears of slowing growth and competitive pressures.
The... More
