Spotify Kicks Off an Earnings Season Like No Other: What to Watch for as Music Biz Lays Out Pandemic's Impact

On one end of the spectrum are digital services such as Spotify that likely escaped unscathed; concert promoters, with touring suspended through the entire quarter, suffered unprecedented losses and have prepared for blank slates the rest of the year.

2) The publicly traded promoters' second-quarter earnings will reveal the coronavirus's impact. With enough liquidity to survive 2020, promoters' bigger challenge is 2021. After a torrential rally, Spotify's share price closed Monday at $272.82, up 82.4% for the year but 9.0% below the high of $299.67 reached on July 22. Investors' ringing enthusiasm stems from a string of podcast deals with the likes of. The run-up was mostly anticipation for future benefits of an aggressive push into podcasting.

: up 17% year-over-year but, more importantly, down sequentially from $462 million to $454 million in the first quarter.

Wack we can't even view the earnings without paying. Wack

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GE loses less cash than expected even as pandemic pummels earningsGeneral Electric Co lost less cash than estimated in the second quarter even as the coronavirus pandemic pummeled demand in its aviation business, resulting in a wider-than-expected quarterly loss. Losing less cash than expected is still a negative cash flow.
Source: Reuters - 🏆 2. / 97 Read more »