Spotify Q3: Strong Subscriber Growth And Margin Improvement
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Spotify Technology S.A. reported strong Q3 results with 19% revenue growth and 11.5% growth in monthly active users. The company is expected to launch an ads exchange platform, potentially boosting ad revenue and reducing reliance on Alphabet and Meta. A Strong Buy rating is reiterated with a $500 price target.
November 12, 2024 | 11:45 pm
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Spotify's Q3 results show strong subscriber growth and margin improvement. The potential launch of an ads exchange platform could enhance ad revenue and reduce reliance on Alphabet and Meta. A Strong Buy rating is reiterated with a $500 price target.
Spotify's strong Q3 results with significant revenue and user growth indicate positive business momentum. The potential ads exchange platform could diversify revenue streams and reduce dependency on major ad players, supporting the Strong Buy rating and $500 price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100