Spotify Stock Jumps on Subscriber Record. Why It Got a Downgrade After Earnings.
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Spotify reported a record number of subscribers and third-quarter earnings of 1.45 euros per share on revenue of 4 billion euros. Despite this, the stock received a downgrade after the earnings report.
November 13, 2024 | 1:00 pm
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NEUTRAL IMPACT
Spotify reported strong third-quarter earnings and a record number of subscribers, but the stock was downgraded post-earnings.
Spotify's strong earnings and subscriber growth are positive indicators, but the downgrade suggests potential concerns about future performance or valuation, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100