Tuesday, January 31, 2023
Wall Street has a green light on Big Green following
Spotify's earnings report for Q4, which saw the platform reach new milestones in MAU and subscribers and beat gross-margins and profit expectations.
Spotify shares hit a five-month high on 1/31, surging 12.7% from 1/30. On 2/1 shares continued to climb, up nearly 5%, closing at $118.19.
Citi flagged it as a "buy," citing the company's positive outlook for Q1 2023, during which it expects to hit 500m MAU and 2m new subs.
How's that for efficiency?
