.Friday, July 23, 2024 09:04 AM

Spotify (NYSE:SPOT) stock price surged over 13% in pre-market trading after reporting Q2/24 earnings. The company posted an EPS of €1.33, beating forecasts, but revenue slightly missed expectations at €3.81 billion. Premium revenue came in at €3.35 billion, above estimates. Gross margin for the quarter was 29.2%, higher than expected. MAUs were reported at 626 million, lower than projected, with ad-supported MAUs at 393 million. Spotify forecasts Q3/24 revenue of €4 billion, below Street estimates of €4.365 billion.