SPOT - These Analysts Boost Their Forecasts On Spotify After Q3 Earnings | Benzinga
Spotify Technology SA (NYSE: SPOT) reported a profit for the third quarter.
Spotify reported third-quarter FY23 revenue growth of 11% year-on-year to €3.36 billion ($3.65 billion), beating the consensus of $3.34 billion. EPS of €0.33 or $0.36 beat the consensus loss of $(0.22).
Spotify said it sees fourth-quarter revenue of €3.7 billion (consensus $3.91 billion), which includes a 300 bps hit from forex.
Spotify shares fell 5.5% to trade at $161.28 on Wednesday.
These analysts made changes to their price targets on Spotify following earnings announcement.
- Raymond James increased the ...