Spotify's Stock Falls After Earnings Beat But Guidance Disappoints
Spotify's stock fell 9% in premarket trading after the company's first-quarter earnings beat expectations but its guidance for the current quarter disappointed investors. The company reported revenue of 4.5 billion euros and 761 million monthly active users, both above estimates, but its guidance for premium subscriber growth and operating income fell short of expectations.
Tickers: $SPOT
Topics: Earnings Guidance Stock Price Movement Subscription Pricing User Growth