News Formal

Spotify Shares Climb, UMG Shares Sink Following Q2 Earnings Reports

  • 📰 billboard
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Spotify's stock rose and Universal Music shares fell following the companies' Q2 earnings reports this week. Get your music stocks update here.

By raising prices and cutting costs, Spotify has transformed into the kind of profitable company investors always hoped it could become, and the streamer’s upbeatAfter Spotify announced it grew revenues by 20%, improved its gross margin and beat guidance on new subscriber additions, a slew of analysts raised their price targets, including Goldman Sachs , JP Morgan , Rosenblatt , Pivotal Research , Barclays , Cowen and B of A Securities .

UMG went public in Sept. 2021, giving investors an opportunity to capitalize on the largest music company during a time of streaming growth and industry expansion. Even optimistic investors will have to bear through short-term ups and downs, however. “If you think the longer term analysis holds then represents a significant buying opportunity,” J.P. Morgan analystwrote in an email to investors on Friday .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 112. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday. Japan's benchmark Nikkei 225 topped 41,000 early Friday, gaining 0.3% and adding to Thursday's record close. U.S. futures edged higher and oil prices fell. On Wednesday, the S&P 500 rose 0.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday.
Source: wjxt4 - 🏆 246. / 63 Read more »

What You Should Know About UMG’s Q2 Earnings: Uneven Streaming Growth, Facebook Licensing & MoreA Universal Music Q2 earnings analysis highlights uneven streaming growth and more, including a lapsed licensing deal with Facebook for music videos.
Source: billboard - 🏆 112. / 63 Read more »