Spotify Smashes Gross Margin Guidance, Analysts Expect 'Continued Momentum'
Portfolio Pulse from Priya Nigam
Spotify Technology SA (NYSE:SPOT) reported strong second-quarter results, exceeding gross margin guidance and receiving multiple analyst upgrades and increased price targets. Despite lower-than-expected Monthly Active Users (MAUs), the company showed strong premium subscriber growth and operating income. Analysts expect continued momentum in gross margin and operating income.
July 24, 2024 | 4:34 pm
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Spotify reported strong Q2 results, exceeding gross margin guidance and receiving multiple analyst upgrades and increased price targets. Despite lower-than-expected MAUs, the company showed strong premium subscriber growth and operating income. Analysts expect continued momentum in gross margin and operating income.
Spotify's strong Q2 performance, exceeding gross margin guidance, and receiving multiple analyst upgrades and increased price targets indicate a positive short-term impact on the stock price. Despite lower MAUs, the company's strong premium subscriber growth and operating income are expected to drive continued momentum.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100