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Shares of Swedish audio-streamer Spotify fell over 13% after the market opened Tuesday, as soft guidance overshadowed an earnings beat.
Shares of Swedish audio-streamer Spotify fell over 13% after the market opened Tuesday, as soft guidance overshadowed an earnings beat. The company said first-quarter revenue rose 8% from last year to 4.5 billion euros ($5.3 billion), while monthly active users (MAUs) rose 12% year-on-year to 761 million, both slightly above FactSet estimates. The guidance is "subject to substantial uncertainty," Spotify said in an earnings presentation. Operating income was guided to 630 million euros, while the Street was expecting closer to 680 million euros, per FactSet estimates. Spotify has repeatedly hi
