The Spotify actionsthe company behind the famous music and podcast streaming platform, more than 11% sink in the New York Stock Exchange this Thursday and reached its lowest level since May. The reason? Weak quarterly balances.
The actions of this company can be operated from the Buenos Aires stock market through their Yieldsso the news becomes relevant to local investors.
Spotify karaoke.jpg
Ranking of the most listened podcasts in Argentina.
Specifically, Spotify reported Income of 4,190 million euros In the second quarter, slightly below 4,270 million euros estimated by analysts, but exceeding 3,810 million euros recorded a year ago.
However, the firm reported a adjusted loss of 0.42 euros per sharecompared to the expectation of profits of 1.97 euros and in contrast to the 1.33 euros obtained in the same period of the previous year.
The context hits Spotify
“The huge exchange movements during the quarter affected the revenues reported at 104 million euros compared to the forecasts,” Spotify explained in their balances presentation.
Operating income was also below expectations, affected by greater social chargesthe increase in payroll expenses and a less favorable income composition.
In addition, the projections for the current quarter were below Wall Street estimates, reflecting the persistent pressure of social charges linked to the performance of the company’s actions.
Spotify.jpg

During the presentation of results, the Executive Director Daniel Ek He recognized the short -term weaknesses, but reaffirmed his confidence in Spotify’s long -term growth path, which is why he reiterated his expectation that 2025 will be an “exceptional” year.
Subscribers continue to grow
EK attributed the recent Increase of users and subscribers At strategic initiatives undertaken several quarters, stressing that their effects are not always immediate or completely under the control of the company.
Spotify projected to reach 710 million monthly active users (Mau) in the third quarter, above the 707 million estimated by analysts. In the second quarter, the Mau grew by 11% year -on -year up to 696 million, thus exceeding 689 million.
Meanwhile, premium subscribers rose 12% to 276 million, while advertising users grew by 10% to 433 million, both results above market projections.
“Our approach always was and will continue to focus on creating value throughout useful life instead of optimizing quarter to quarter,” EK told investors.
Source: Ambito

I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.