New York, Feb 5, 2026, 18:21 EST — Trading after-hours.
- Spotify shares ended the day down roughly 6% and continued to slide in after-hours trading
- Spotify is adding an option for users to purchase physical books directly through its app, with fulfillment managed by Bookshop.org
- After a steep three-day drop, investors are now eyeing earnings on Feb. 10 for direction
Shares of Spotify Technology S.A. dropped once more on Thursday and remained weak in after-hours trading following the company’s announcement of a move into physical book sales paired with new audiobook offerings. The stock finished the day down 6.3% at $412.80 and was last trading about 0.8% lower at $409.52 in extended hours, which occur outside normal U.S. market times. 1
Spotify’s stock, already struggling, takes another hit as investors wrestle with mixed signals ahead of next week’s earnings. The company’s bet on audiobooks is pitched as a growth driver, yet the market remains skeptical, demanding firmer evidence on margins and returns.
Spotify’s shares have fallen nearly 19% across the last three sessions, pushing the stock down near the bottom of its recent trading range. On Thursday, the price dipped to around $405 before recovering some ground by the close. 2
Spotify announced plans to offer physical book sales in the U.S. and U.K. later this spring through a partnership with Bookshop.org. Alongside that, it’s launching a “Page Match” feature that lets users scan a page and jump directly to that spot in an audiobook. Owen Smith, Spotify’s global head of audiobooks, described it as an effort to blend reading and listening, saying, “the future of reading or listening needs to be flexible.” Author Harlan Coben called Page Match “the most exciting development in reading technology I’ve heard about in years.” 3
At an event tied to the launch, Bookshop.org founder and CEO Andy Hunter echoed that sentiment, saying, “Spotify is bringing in more readers, and I’m all for anything that grows the size of the pie.” 4
The structure is key: Spotify isn’t stepping into the role of bookseller. Instead, Bookshop.org takes care of pricing, inventory, and fulfillment. Spotify’s angle? It’s using the feature as a discovery tool and another link in its audiobook distribution chain.
Focus turns to earnings next. Spotify is set to release its fourth-quarter 2025 results before the open on Tuesday, Feb. 10. Analysts forecast earnings around $3.20 per share on revenue near $4.523 billion, according to MarketBeat data. 5
Traders will zero in on subscriber numbers, ad growth, and gross margin, while watching for any updates on how audiobooks are impacting user engagement. The recent jump in the stock sets higher expectations for guidance, particularly if the company hints at ramping up spending to develop new formats.
Yet the push into books raises some doubts. Affiliate fees tend to be slim, and handling physical logistics isn’t Spotify’s strong suit. If sales lag, this move might seem more like a distraction than a real boost to revenue.
On Friday, Feb. 6, investors will be looking to see if the stock can find a floor following a three-day sell-off. Attention turns next week to the Feb. 10 earnings report. The Page Match rollout is set to expand throughout February, while the book-buying feature is planned for launch later this spring.
