Spotify Falls Most Since November on Guidance Below Views
- Average monthly revenue per user declines in fourth quarter
- Premium subscribers exceed 150 million, topping expectations
Spotify shares have climbed 9.7% in 2021 after more than doubling last year.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Spotify Technology SA fell as much as 9%, the most since November, after its full-year revenue forecast for 2021 missed average analyst expectations.
The world’s biggest audio streaming company expects revenue for 2021 of 9.01 billion euros ($10.83 billion) to 9.41 billion euros, it said in a statement Wednesday. Analysts expected 9.28 billion euros to 10.09 billion euros, according to a consensus compiled by Bloomberg.