Spotify delivers improved margins, offsetting Q3 results miss

November 13, 2024 09:17 AM AEDT | By Investing

Google News:

Spotify delivers improved margins, offsetting Q3 results miss

Recent News

Cascale Annual Report Highlights Convening Power, Need for Accelerated...

RITFIT Launches Its First-Ever Physical Showroom in California: Usheri...

Forging new bonds with the Greater Bay Area

42 Fast Buds Evolves: New Logo, Same Rebel Spirit

Investing.com -- Spotify reported third-quarter results Tuesday that missed Wall Street estimates, but that was overshadowed by the Swedish audio streaming giant's improved margins amid cost-cutting efforts.

Spotify Technology SA (NYSE:SPOT) was up 9% in recent afterhours trading.

The company reported Q3 EPS of €1.45 on revenue of €3.99 billion, compared with Wall Street estimates for EPS of $1.68 on revenue of $4.02B

Gross margin improved to 31.1% in Q3 from 26.4% a year earlier.

Monthly active users grew 11% to 640M in Q3 from a year earlier.

Looking ahead, the company guided monthly active users to 665M, gross margin to 31.8% and revenue to €4.1B.

This article first appeared in Investing.com

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.