Spotify’s Record Profit Couldn’t Stop the Stock Slide
Shares of Spotify Technology SA slid 12% in premarket action Tuesday, after the company’s outlook for second-quarter operating income and paying-user gains landed short of Wall Street’s targets. The music-streaming platform projected €630 million in operating income for the period, falling short of the €684 million average forecast from LSEG. That guidance overshadowed a record first-quarter operating profit, according to Reuters.
