Spotify earnings preview: Wall Street focused on improving margins amid profitability push

) is set to report its fiscal third quarter earnings on Tuesday before the bell as the music streaming platform aims to improve profitability through reduced podcasting investments and recently implemented price hikes.to a Q3 boost in gross margins to 26% "primarily driven by year-over-year improvement in podcasting and other costs of revenue." This would represent a major breakthrough after margins have been stuck between 21% and 25% in recent quarters.

"We think SPOT will guide Q4 margins above Street and closer to our estimates," Wells Fargo analyst Steve Cahall wrote in a new note to clients ahead of the report. Cahall anticipates margins of 26.8%, slightly above Wall Street's 26.1% expectation. Flash forward to today, however, and the company seems to be fulfilling that profitability promise. In addition to the price hikes, Spotify has committed to various cost-cutting initiatives over the past year, which have included

Kevin Paffrath slammed Elon Musk's comments on Tesla's third quarter earnings call in an interview with Yahoo Finance this week.

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Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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