Why Is Nobody Talking About Spotify Stock?
In this video, I will be talking about Spotify (NYSE: SPOT) and why I think it should be back on investors' radar. The company has reported good earnings and has been making some good moves that will further strengthen its position as the leader in all things audio. You can find the video below, but here are some highlights.
In Q3, total monthly average users grew 19% year over year (YOY) to 381 million, up from 365 million last quarter and near the top end of the company's guidance range. Revenue came in at 2.5 billion euros, growing 27% YOY. Premium revenue grew 22% YOY to 2.17 billion euros, while ad-supported revenue was particularly strong, growing 75% YOY to 323 million euros. Gross margin for the quarter improved by 200 basis points to 26.7%, and free cash flow was 99 million euros this quarter, an increase of 4 million euros YOY but 65 million euros quarter over quarter.
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Source Fool.com
