Spotify Technology: Q2 Earnings Insights

Shares of Spotify Technology SPOT fell 5% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 346.81% over the past year to ($2.10), which may not compare to the estimate of ($0.42).

Revenue of $2,080,000,000 higher by 12.43% year over year, which beat the estimate of $1,930,000,000.

Guidance

Q3 revenue expected between $2,040,000,000 and $2,258,000,000.

Conference Call Details

Date: Jul 29, 2020

Time: 08:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestors.spotify.com%2Fevents%2Fevents-calendar%2Fdefault.aspx&eventid=2399515&sessionid=1&key=EE13439C42DD0E6440819E0277E5F269&regTag=&sourcepage=register

Recent Stock Performance

52-week high: $299.67

52-week low: $109.18

Price action over last quarter: Up 66.26%

Company Profile

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with over 150 million total listeners. The firm monetizes its users through both a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 90% and 10% of Spotify's 2017 total revenue, respectively.