Spotify Misses Analyst Estimates on Subscriber Outlook, Leading to Stock Decline
Spotify's stock fell 14% in early trading after the company missed analyst estimates for its second-quarter premium subscriber growth. The company projected 299 million premium subscribers, below the expected 300.29 million, despite a first-quarter subscriber increase and an 8.2% revenue rise.
Tickers: $SPOT
Topics: analyst estimates market reaction Spotify stock price subscriber growth