Spotify's (NYSE: SPOT) stock plunged 17% to its lowest levels since May 2020 after the streaming music giant posted its fourth-quarter earnings.
Spotify's revenue rose 24% year over year to 2.69 billion euros ($3.08 billion), which topped analysts' estimates by 34 million euros. It narrowed its net loss from 125 million euros to 39 million euros ($45 million), or 0.21 euros ($0.24) per share -- which also comfortably beat expectations by 0.15 euros.
Those headline numbers looked solid, but Spotify's monthly active user (MAU) and premium subscriber forecasts slightly missed analysts' expectations. Did the market overreact to that soft guidance and create a fresh opportunity to invest in the world's largest premium streaming music platform?
Source Fool.com