April 27, 2024
Spotify Stock Has 26% Upside, According to 1 Wall Street Analyst
Spotify Technology (NYSE: SPOT) reported strong earnings last week. Paying subscribers increased by 14%, monthly active users rose 19%, and revenue gained 20% year over year. Perhaps best of all, Spotify reported an operating profit for the quarter — only 4.6%, but still better than last year's negative margins. And free cash flow (FCF) roughly quadrupled to $207 million.