Spotify slips after muted outlook despite earnings beat
Spotify beat Q1 estimates with revenue of 4.5 billion euros and MAUs rising to 761 million (up 12%) and premium subscribers to 293 million, but issued a cautious Q2 outlook: 17 million net user adds to reach 778 million MAUs and 6 million more premium subs to 299 million, with operating income around 630 million euros vs. expectations near 680 million. The soft guidance, along with recent Premium price increases, spurred a sell-off in the stock.
