) is set to report its fiscal second quarter earnings on Tuesday before the bell. Wall Street expects the music streamer to once again post a profit on an adjusted basis as the company's
"We continue to see a long runway for growth in music streaming," Morgan Stanley analyst Ben Swinburne said in a note published earlier this month. "This view is supported by paid subscription streaming penetration of global smartphones of just ~15% at year-end 2023 and service offerings that remain in our view underpriced when compared to historical consumer spending on music.
A screen displays the logo and trading information for Spotify on the floor at the New York Stock Exchange in New York City, Feb. 6, 2024. Bank of America analyst Jessica Reif Ehrlich added that Spotify "continues to execute on initiatives that put the company on a positive revenue, gross margin, operating income, and FCF trajectory."
Spotify guided to gross margins of 28.1% in Q2 after the metric came in at 27.6% in the first quarter. Over the long term, Spotify expects gross margins between 30% and 35% amid plans to further scale its podcasting and ads business.Warren Buffett once said there are 'two kinds of items people buy' to grow wealth — but only one 'really is investing'This dividend stock may be down around 10%, but there is a huge future opportunity for those wanting growth as well as a 5.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »