Spotify Stock Drops After Earnings Report and Subscriber Guidance
Shares of Spotify Technology (NYSE: SPOT) fell by 14% this week following its Q1 earnings report. While the company exceeded expectations in sales, free cash flow, and premium subscriber growth, it provided weaker-than-expected guidance for Q2 premium subscribers and reported a decline in ad-supported revenue.
Tickers: $SPOT
Topics: advertising revenue earnings report stock price drop subscriber growth