{"id":403021,"date":"2022-02-03T01:02:57","date_gmt":"2022-02-02T22:02:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/spotify-shares-tumble-on-weak-profit-forecast\/"},"modified":"2022-02-03T01:02:57","modified_gmt":"2022-02-02T22:02:57","slug":"spotify-shares-tumble-on-weak-profit-forecast","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/spotify-shares-tumble-on-weak-profit-forecast\/","title":{"rendered":"#Spotify shares tumble on weak profit forecast"},"content":{"rendered":"

“#Spotify shares tumble on weak profit forecast<\/strong>”<\/p>\n

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\n \"Shares
\n Shares of Spotify fell after it projected weaker profit margins in the first quarter of 2022.
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Shares of Spotify tumbled Wednesday after the music streaming service reported a quarterly loss and projected lower profit margins in the coming earnings period.<\/p>\n

The company announced a loss of 39 million euros ($44.1 million) and forecast its first-quarter 2022 gross profit margin would fall to 25 percent from 26.5 percent.<\/p>\n

Its press release made no mention of the controversy surrounding podcaster Joe Rogan, whose statements about Covid-19 vaccines have led to the departures of some high-profile musicians from the service.<\/p>\n

However, Spotify said its podcasting platform had seen increased consumer engagement.<\/p>\n

“Consumption trends remained strong,” Spotify said of the podcasting service.<\/p>\n

The company pointed to “continued momentum in our subscript<\/a>ion business and meaningful advertising results,” adding that “we see a tremendous amount of greenfield on the horizon.”<\/p>\n

Shares of Spotify have fallen steeply over the last year, along with other “stay-at-home” stocks that benefited from the disruptions to daily life caused by the Covid-19 pandemic.<\/p>\n

Spotify’s shares fell 12.7 percent to $167.50 in after-hours trading.\n <\/p>\n\n

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Spotify to add advisories to podcasts discussing COVID-19\n <\/p><\/div>\n

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\n \u00a9 2022 AFP<\/p>\n

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Citation<\/strong>:
\n Spotify shares tumble on weak profit forecast (2022, February 2)
\n retrieved 3 February 2022
\n from https:\/\/techxplore.com\/news<\/a>\/2022-02-spotify-weak-profit.html<\/p>\n

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