Spotify's Q2 Margin Gains, Record Free Cash Flow And Strong Subscriber Growth Highlight Successful Execution In Music And Podcasts: JP Morgan Analyst
Portfolio Pulse from Anusuya Lahiri
Spotify's Q2 2024 results showed strong margin gains, record free cash flow, and robust subscriber growth, leading JP Morgan analyst Doug Anmuth to maintain an Overweight rating. Despite missing revenue estimates, Spotify's EPS beat expectations, and its guidance for Q3 gross margin and operating income exceeded consensus. Shares closed 12% higher.
July 23, 2024 | 8:34 pm
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Spotify's Q2 2024 results showed strong margin gains, record free cash flow, and robust subscriber growth. Despite missing revenue estimates, EPS beat expectations, and Q3 guidance for gross margin and operating income exceeded consensus. Shares closed 12% higher.
Spotify's strong Q2 results, including record free cash flow and robust subscriber growth, have led to a positive market reaction. The company's guidance for Q3 gross margin and operating income exceeded expectations, further boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100