These Analysts Revise Their Forecasts On Spotify After Q2 Results

Spotify Technology S.A. (NYSE: SPOT ) on Tuesday reported second-quarter results that missed Wall Street earnings and revenue estimates and issued downbeat third-quarter guidance for monthly active users. The company posted second-quarter earnings of $3.03 per share, missing the analyst consensus estimate of $3.29. Revenue increased 14% year over year to $5.554 billion (4.78 billion euros), below the Street estimate of $5.600 billion. For the third quarter, Spotify expects revenue of 5.0 billion euros, or about $5.813 billion, above the analyst consensus estimate of $5.770 billion. The company expects Premium subscribers to reach 305 million, implying net additions of about 5 million. Monthly active users are projected to increase to 788 million, below analysts’ estimate of 793 million. Spotify shares rose 1.7% to $486.05 in pre-market trading. These analysts made changes to their pri...