In its most recent Securities and Exchange Commission ( SEC) filings, the company revealed that unaudited revenue increased to €2.86m from €2.33m during Q2 2022.Ī major reason behind the company incurring a loss in the second quarter was its spending on marketing, aimed at growing its subscription base.
Unaudited diluted loss per share widened to €0.85 from €0.19. In July 2022, the audio streaming company’s unaudited net loss for the three months ended June 30 widened to €125m ($122m) from a net loss of €20m in the year-ago period. The stock has lost nearly 38% of its value over a five-year period, declining more than 60% over a year. In addition, the stock’s closing price of $92.45 on 22 September marked a 74.6% decline from its all-time high closing price of $364.59 in February last year. The Spotify stock price has fallen by more than 62% year-to-date, as of 22 September, a wider loss than that incurred by the NYSE Composite index (where the stock is listed), which has lost 18%. Shares reached an all-time high closing price of $364.59 in February 2021.Īs of June 30, the company had 433 million monthly active users, including 188 million premium subscribers. It closed its first trading session at $149. Shares of the company became public in April 2018. Spotify trades on the New York Stock Exchange ( NYSE) under the ticker SPOT.
The firm has operations in 183 countries and territories, including offices in India, Canada, the USA, China, Mexico and across Europe. Launched in October 2008, Spotify is a Stockholm-headquartered audio streaming and media services providing company. In this article, we will look at the company’s current financial performance, latest earnings, as well as the prospects for its stock price and potential stock split. In addition, analysts’ concerns over the firm’s growth prospects over the long term, the inflation-hit global economy, and lower ad-supported gross profits in the year’s second quarter have also put a drag on the stock price. One possible reason for its falling share price was American commentator Joe Rogan’s podcast on the Spotify platform, which allegedly spread misinformation related to Covid-19 – a claim Rogan refuted, saying that his goal was to create lively conversations with varying opinions, and that he would do his best in the future to “balance things out.” Analyst views on SPOT price: where next for the stock?Ģ022 has been a rather bleak year for Swedish audio streaming company Spotify ( SPOT).Will a SPOT stock split help the Spotify stock recover?.Spotify’s earnings from premium and ad-supported accounts.US30 US Wall Street 30 (USA 30, Dow Jones)
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