Why Spotify Stock Dropped 9% After Earnings
Heading into earnings this morning, analysts had predicted that Spotify (NYSE: SPOT) would report a $0.66-per-share loss on sales of $2.35 billion. In fact, the streaming company ended up losing 0.58 euro ($0.68) per share on 1.98 million euros ($2.31 million) in revenue.
In other words, Spotify missed estimates -- on both the top and bottom lines -- and its stock is down 8.5% (as of 10:45 a.m. EDT) because of it.
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Source Fool.com
