Spotify Tech's Q4 Performance: MAU Growth, Ad-supported Tier Growth and More
Portfolio Pulse from Anusuya Lahiri
Spotify Technology SA (NYSE:SPOT) reported Q4 FY23 revenue of €3.67 billion, missing consensus estimates. Despite a loss per share greater than expected, the company saw significant growth in MAUs, premium subscribers, and ad-supported revenue. Gross margins improved across the board, and the company holds €4.3 billion in cash. Shares rose 5.44% in premarket trading.
February 06, 2024 | 12:14 pm
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Spotify's Q4 FY23 report shows revenue growth and improved margins, but missed revenue and EPS estimates. Shares rose 5.44% premarket.
Spotify's stock price increase in premarket trading indicates positive investor sentiment despite missing revenue and EPS estimates. The significant growth in MAUs and premium subscribers, along with improved margins, likely contributed to this optimism. However, the missed estimates introduce some caution, hence the importance and confidence scores are not at the maximum.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100