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Spotify shares fell after the earnings report.


Jul 29, 2023
Акции Spotify упали после отчета о доходах

Shares of Spotify Technology SA plummeted 14.3% during trading on the New York Stock Exchange after the business revealed lower-than-expected results and a worsening outlook.

The company’s overall revenue increased 11% from the prior year to €3.18 billion ($3.51 billion). This amount was less than the average analyst prediction of €3.21 billion, though. The price of the company’s shares fell as a result of this painful letdown.

The company’s prospects were also negatively impacted by Spotify’s weak financial performance. The business stated in a statement that it anticipates current-period revenue of roughly €3.3 billion. Additionally, this prediction fell short of the €3.42 billion sales estimate made by analysts. Even though Spotify’s revenue increased, the projected mismatch worried investors and led the price to decline.

Despite its current problems, Spotify can expand and generate more money. To draw in new people and keep them around, the company keeps investing in the growth of its platform and features. Additionally, Spotify is actively growing its relationships to provide users with more content and features.

The company has the potential to expand into other areas. Although Spotify is presently available everywhere, many nations have yet to make the service available. The number of users and income may rise as a result of entering new markets.

It’s also important to keep in mind that Spotify is aggressively developing audio content, such as podcasts and audiobooks. This market has a lot of room for expansion and could add to the company’s revenue.


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