Spotify: 4Q Earnings Snapshot
LUXEMBOURG (AP) _ Spotify Technology SA (SPOT) on Wednesday reported a fourth-quarter loss of $231.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Luxembourg-based company said it had a loss of $1.26.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The music-streaming service operator posted revenue of $2.05 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $2.09 billion.
For the year, the company reported that its loss widened to $208.3 million, or $1.15 per share. Revenue was reported as $7.58 billion.
For the current quarter ending in April, Spotify said it expects revenue in the range of $1.89 billion to $2.12 billion.
The company expects full-year revenue in the range of $8.95 billion to $9.39 billion.
Spotify shares have climbed 3% since the beginning of the year. The stock has risen 11% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOT