![]() ![]() CNBC's Michael Bloom contributed to this report. Despite Tuesday's steep decline, Spotify shares are up more than 77% year to date. "While we think improved headline royalty rates are unlikely, we do think lower per-stream guarantees on the ad-supported side and perhaps higher marketplace commitments remain a real possibility, which could potentially present a gross margin upside catalyst from the 4Q onward," he said. ![]() The analyst also highlighted the higher subscription cost structure from Spotify going forward as well as investments in podcasts and stronger ad spending as a catalyst for future growth. "We came away from the print modestly more constructive, as top-of-funnel metrics continue to outpace expectations, 3Q gross margin guide came in above consensus (though admittedly in line with buyside bogeys), and operating losses narrowed once again," Black said. SPOT YTD mountain Spotify stock slumped more than 14% after reporting quarterly results on Tuesday. But analyst Benjamin Black said that Spotify's results are a function of currency fluctuations as opposed to a fundamental company issue, adding the selloff is overdone. The stock tumbled more than 14% on the report. The Federal Reserve raised its benchmark lending rate by a quarter point Wednesday, lifting interest rates to their highest level in 22 years. ![]() Spotify on Tuesday reported weaker-than-expected second-quarter revenue and disappointing top-line guidance for the third quarter. It's $180 price target implies upside of 25% from Tuesday's close. Designers, download the design stuff for free icons, photos, UX illustrations, and music for your videos. Tap the switch next to Custom Zone and enter. Download Music And Video Icons Vector audio, cinema and multimedia icon set. The bank upgraded the music streaming service to buy from hold Wednesday. Download 4225 free Rate Icons in All design styles. From the Today tab in the Fitbit app, tap the Heart Rate tile. 16 Music Notation Icons These simply beautiful music icons include every notation you might need Represented is a crotchet, quaver, treble clef, sharp, and flat, amongst many others. Spotify's post-earnings selloff created a buying opportunity for investors, according to Deutsche Bank. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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