Spotify Falls Most Since November on Guidance Below Views
Bloomberg
2/3/2021
Lucas Shaw
(Bloomberg) -- Spotify Technology SA fell as much as 9%, the most since November, after its full-year revenue forecast for 2021 missed average analyst expectations.
The world’s biggest audio streaming company expects revenue for 2021 of 9.01 billion euros ($10.83 billion) to 9.41 billion euros, it said in a statement Wednesday. Analysts expected 9.28 billion euros to 10.09 billion euros, according to a consensus compiled by Bloomberg.
Spotify said that while it remains optimistic about business trends this year, “we face increased forecasting uncertainty versus prior years due to the unknown duration of the pandemic and its ongoing effect on user, subscriber, and revenue growth.”