27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Spotify Technology SA (NYSE:SPOT) reported upbeat earnings for its fiscal first quarter 2024 on Tuesday.
The company posted revenue growth of 20% year-on-year to $3.95 billion (3.64 billion euros), beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the consensus of 70 cents, according to data from Benzinga Pro.
Premium Revenue grew 20% year over year to 3.25 billion euros, helped by subscriber additions and ARPU increases. Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million , which missed its guidance by 3 million.
Ad-supported MAUs grew 22% Y/Y to 388 million. Premium Subscribers grew 14% Y/Y to 239 million.
Spotify held 4.7 billion euros in cash and equivalents and generated €207 million in free cash flow.
Spotify said it expects second-quarter revenue of 3.8 billion euros (consensus $3.76 billion) and total MAUs of 631 million.
Spotify shares rose 11.4% to close at $303.31 on Tuesday.
These analysts made changes to their price targets on Spotify following earnings announcement.
- Pivotal Research boosted the price target on Spotify from $390 to $400. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating.
- Benchmark raised the price target on Spotify from $325 to $375. Benchmark analyst Matthew Harrigan maintained a Buy rating.
- Rosenblatt increased the price target on Spotify from $315 to $396. Rosenblatt analyst Barton Crockett maintained a Buy rating.
Now Read This: Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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