Why is spotify stock down2/18/2023 ![]() Spotify has seen some of its biggest competitors gain substantial strength since the company made its public debut.Īpple surpassed Spotify as the largest premium subscription music service in the United States over the summer. The S&P 500 index, for reference, is up nearly 7% on the year. It should follow that Spotify's stock price is up about as much as the overall market considering it hasn't dramatically over- or underperformed. Over its first three earnings reports as a publicly traded company, Spotify delivered pretty close to what analysts were expecting - solid user and revenue growth with meaningful gross margin expansion. User growth also remained relatively consistent, although the mix between premium and ad-supported subscribers wasn't always what analysts had anticipated. It consistently hit the mark on revenue results, although its guidance for the second quarter provided in May helped temper expectations for the July report. Spotify's quarterly earnings results throughout the year were mostly in line with analyst expectations.
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