On the other hand, the company’s 2021 revenue estimate was slightly increased and its expectations for paying customers didn’t change. The biggest concern could be Spotify lowering its full-year guidance, with the company saying on Wednesday it now projects it’ll have between 402 million and 422 million subscribers by the end of 2021 back in February, Spotify had projected it would add 407 million to 427 million by the end of the year. The rare profit and 3 million new paying customers weren’t enough to satiate some shareholders, though, with Spotify’s stock dropping 9% an hour into trading, hitting $266.38 per share. Rumblewhich is in the midst of a public offering backed by Cantor Fitzgeraldsaw its SPAC stock drop to a daily low of 13.52 as of 1:18 p.m., down from 16.15 when the market opened.
The Stockholm, Sweden-based company also posted a profit of €23 million (compared to a €1 million profit at the same time last year), while analysts had expected Spotify to post a slight loss for the quarter. Spotify now has 158 million paying subscribers, which came in slightly above Wall Street’s projections. They are making a lot of money now and people still use it. Why is this happening All the news and graphs I have read indicate that Spotify should be rising and not dropping.
As for paying customers, Spotify added 3 million ad-free customers during Q1, up 21% from the same time last year. It was rising in in the first parts of there year, hit it's all time high of 315 and down we go.
0 kommentar(er)
