Spotify Shares Drop 13% After Weak Guidance
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- Spotify posted Q1 revenue of €4.5 billion, up 8% YoY, and MAUs of 761 million, up 12% YoY, slightly beating FactSet estimates.
- FactSet's consensus expected premium subscribers to exceed 300.4 million, but Spotify guided 299 million, missing the target.
- Spotify guided operating income of €630 million, below the Street’s €680 million forecast.
- Spotify's shares fell more than 13% in early trading, extending a 14% YTD decline.
Why it matters: Spotify’s investors lose as the stock slides >13% and the 14% YTD drop deepens, while weaker subscriber guidance curbs pricing power and erodes analyst confidence.
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