They are well-positioned to leverage this market. SPOT has already announced a $500 million investment in their podcast product line. From an obscure feature available only to Apple (NASDAQ: AAPL) iTunes subscribers in the past, podcasts have experienced massive growth. This top-line figure was compromised of premium revenue totaling $1.67 billion, a 31% year-over-year increase, and ad-supported revenue of $183 million up 34% from last year.Ģ) Podcast Market Booming: Podcasts have been around for a decade with few firms being able to commercialize on the product. Total revenue was $1.85 billion in Q2, representing growth of 31% year-over-year. Here are five reasons why SPOT may deliver long term value: Podcasts and Music Market Fuel SPOT Growthġ) Revenue Growth Strong: Moving away from the critical metric of growth in paid subscriber numbers, the all-important factor for investors is that the income statement for SPOT stock is strong. While it has recovered back to $153, SPOT stock is still off the 52-week high of $196 from late last summer.ĭespite the disappointing earnings call, now may not be the right time to bail out on SPOT stock. Upon the bad news, SPOT stock dropped from $153 to $147.Ĭredit Suisse reaffirmed its Underperform rating on SPOT stock with a target price of $120. Paying subscription numbers for SPOT increased by eight million, taking it to 108 million premium subscribers, but it missed its forecast of 8.5 million new subscribers.
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