Spotify's Q2 Margin Gains, Record Free Cash Flow And Strong Subscriber Growth Highlight Successful Execution In Music And Podcasts: JP Morgan Analyst

Quick Summary:

Spotify continues to execute well and drive meaningful profit improvements across music, podcasts, and other revenue costs, the analyst said, citing the gross and operating margin guide for the third quarter hitting the low end of the company’s medium-term financial targets.

Spotify reported fiscal second-quarter 2024 revenue growth of 20% year-on-year to $4.099 billion, missing the analyst consensus of $4.170 billion. EPS of $1.43 beat the consensus estimate of $1.15.

Spotify guided third-quarter gross margin of 30.2%, well above JP Morgan’s estimate and consensus at 28.6%, Anmuth said.

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Author / Journalist: Anusuya Lahiri

Category: Technology

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Published On: 2024-07-23 @ 20:34:51 (10 hours ago)

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