Wall Street Reacts to Spotify Earnings: Can SPOT Finally Restart Its Rally?

Spotify earnings are in, and the numbers Wall Street got were a mixed bag. Spotify Technology SA reported second-quarter profit of $633.6 million, or $3.03 per share, and that missed the average estimate of $3.27 from the eight analysts Zacks Investment Research surveyed. The Spotify earnings report showed revenue of $5.55 billion for the quarter, which landed right in line with what Wall Street expected. Spotify stock Wall Street reaction is still forming, and spot earnings today have already reopened the question at the center of every Spotify stock forecast right now, whether SPOT can turn strong subscriber numbers into the kind of profit growth investors have been waiting for.

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Spotify Earnings Report Puts SPOT Stock Forecast In Focus

What Analysts Are Expecting From Spotify Earnings

The $3.03 per share Spotify posted came in below the $3.27 consensus, and analysts had already trimmed that estimate by 2.9 percent in the 30 days leading up to the Spotify earnings report, which suggests spotify stock Wall Street coverage saw some of this softness coming. Revenue of $5.55 billion, though, met the Street’s target and marked growth of 16.7 percent from a year earlier, so the top line held up even as profit per share fell short.

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