NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Is Spotify stock a ‘buy’ after the Q2 report this morning?

by July 27, 2022
written by July 27, 2022

Spotify Technology SA (NYSE: SPOT) reported a wider-than-expected loss for its fiscal second quarter on Wednesday. Still, LightShed Partners’ Rich Greenfield says the stock is worth owning here.

The bull case for the Spotify stock

Spotify saw its quarterly ad revenue grow 17% (organically) that, as per Greenfield, is a huge positive ahead of a possible recession. This morning on CNBC’s “Squawk Box”, he said:

They’re growing faster than peers. Of companies that’ve reported so far, Spotify stands out. I’d own it here. It’s the most interesting name people have completely written off. But it’s a stock that has very little competition; they dominate the category.

His constructive view is in line with Wall Street that also has a consensus “overweight” rating on the Spotify stock that’s up roughly 15% on Wednesday.

Highlights of Spotify Q2 report

Lost €125 million (£105.16 million) versus the year-ago figure of €20 millionPer-share loss of €0.85 was significantly wider than last year’s €0.20Revenue jumped 22.9% YoY to €2.86 billion as per the earnings press releaseFactSet consensus was for €0.68 of per-share loss on €2.81 billion in revenue433 million MAUs (up 18.6%) were more than 428.2 million expectedPremium subscribers climbed 13.9% year-over-year to 188 million

Other notable figures and future outlook

Other notable figures in Spotify’s Q2 report include a 29.5% increase in cost of sales, as gross margin slipped from 28.4% to 24.6%. The NYSE-listed firm now sees 450 million MAUs by the end of the current fiscal quarter – ahead of the analysts’ call for 443.9 million.

Despite the rally after the stock market news this morning, Spotify stock is still down more than 50% versus the start of 2022.

The post Is Spotify stock a ‘buy’ after the Q2 report this morning? appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
State Power Doesn’t Settle Science
next post
Is America in a Recession?

You may also like

Walmart shares should be worth $160: Evercore ISI

March 30, 2023

Cramer shares what stocks to own following today’s...

March 30, 2023

SSE plc just raised its earnings guidance again

March 30, 2023

H&M stock rallied 20% on Thursday: explained here

March 30, 2023

Charles Schwab receives a rare downgrade as outflows...

March 30, 2023

Will there be a recession? Forecasts shift as...

March 30, 2023

IWG share price analysis: where fundamentals meet technicals

March 30, 2023

Accenture stock price analysis as the falling wedge...

March 30, 2023

NASDAQ 100 is on track for more gains...

March 30, 2023

Riot Blockchain, Marathon Digital stocks roar as Bitcoin...

March 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    Headline Inflation Falls, But Core Inflation Remains Elevated

  • 2

    My Trigger to Enter $VAPR

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 5

    Pay Attention to These Stocks

Recent Posts

  • Walmart shares should be worth $160: Evercore ISI

    March 30, 2023
  • Cramer shares what stocks to own following today’s GDP report

    March 30, 2023
  • SSE plc just raised its earnings guidance again

    March 30, 2023
  • H&M stock rallied 20% on Thursday: explained here

    March 30, 2023
  • Let’s Cut the Budget Nonsense

    March 30, 2023

Categories

  • Economy (717)
  • Editor's Pick (312)
  • Investing (2,033)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick