Spotify Hits 293M Premium Subs and a Profit Record, But Stock Tanks on Outlook
The audio streamer posted record operating income for the first quarter, and price hikes boosted revenue, but its guidance for the current second quarter for that metric and premium subs disappointed Wall Street:
- Spotify Hits 293 Million Subscribers Wall Street Journal —
- Spotify forecasts profit below estimates as North America, Europe growth slows, shares fall The Globe and Mail —
- Spotify stock plummets after earnings beat expectations as guidance disappoints CNBC —
- Spotify Q1 Revenue Rises 8%, Premium Subscribers Inch Up to 293 Million Amid U.S. Price Hikes Variety —
- Spotify subscribers grow despite premium price increases The Independent —