Shares of Spotify Technology (NYSE:SPOT) decreased 9.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 36.36% year over year to ($0.30), which beat the estimate of ($0.48).

Revenue of $2,589,000,000 up by 27.04% year over year, which beat the estimate of $2,580,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 28, 2021

Time: 08:00 AM

Technicals

Company's 52-week high was at $387.44

52-week low: $139.01

Price action over last quarter: down 15.42%

Company Profile

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with over 150 million total listeners. The firm monetizes its users through both a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 90% and 10% of Spotify's 2017 total revenue, respectively.