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Spotify Technology SA - Stock Quote SPOT

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Morningstar's Spotify Technology SA Stock Analysis

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Spotify Posted Solid Q1 Results; Guides Lower Than Expected; Stock Remains Attractive; $195 FVE

Ali Mogharabi Senior Equity Analyst

Analyst Note

| Ali Mogharabi |

While Spotify’s first-quarter 2022 results beat the firm’s guidance, they were mixed compared with the FactSet consensus estimates, with revenue coming in below and the bottom line beating expectations. Growth in listener count continues to demonstrate the minimal negative impact of last year’s price increase on listener growth and the material positive effect on listener monetization as it increased year over year for the fourth straight quarter. While the firm’s second-quarter guidance is slightly below the consensus estimate, it still projects for solid double-digit growth in both premium and ad-supported segments.

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Spotify Technology SA's Company Profile

Business Description

Spotify, headquartered in Stockholm, Sweden, is one of the world’s largest music streaming service providers, with over 150 million total listeners. The firm monetizes its users through both a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 90% and 10% of Spotify’s 2017 total revenue, respectively.

42-44, Avenue de la Gare
Luxembourg, L-1610, Luxembourg
Sector Communication Services
Industry Internet Content & Information
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 6,617

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