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

‘Utilities are a good gift to equity investors’:...

August 17, 2022

Geo Group stock is a buy on a...

August 16, 2022

Michael Burry is now long this one stock...

August 16, 2022

Cake DeFi: growth continued in Q2 despite crypto...

August 16, 2022

PayPal gets a rare upgrade to ‘outperform’

August 16, 2022

Should you buy Home Depot stock after solid...

August 16, 2022

Ted Baker shares shot up 20% on Tuesday:...

August 16, 2022

Jump Crypto to build new validator client for...

August 16, 2022

PIP unveils Binance integration to help bridge Web3...

August 16, 2022

Request Finance introduces new “salaries” feature for crypto...

August 16, 2022
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

    Lessons From Penny Stock Legend Tim Grittani, the $13 Million Man!

  • 2

    Tesla Inc is on a ‘knife’s edge’ heading into the Q2 report: Analyst

  • 3

    How To Profit From Stock Market Inefficiencies {VIDEO}

  • 4

    Goldman Sachs Q2 results: ‘I’m astonished it could make this much money’

  • 5

    Delta Air Lines could be a $57 stock: Citi analyst

Recent Posts

  • ‘Utilities are a good gift to equity investors’: David Bianco

    August 17, 2022
  • Geo Group stock is a buy on a retracement as the price breaks above a key level

    August 16, 2022
  • Michael Burry is now long this one stock ‘only’

    August 16, 2022
  • Cake DeFi: growth continued in Q2 despite crypto winter

    August 16, 2022
  • PayPal gets a rare upgrade to ‘outperform’

    August 16, 2022

Categories

  • Economy (104)
  • Editor's Pick (33)
  • Investing (274)
  • Stock (17)
  • 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 © 2022 NewTradingView.com All Rights Reserved.


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