Spotify stock sinks on weaker-than-expected first quarter subscriber numbers
The Hindu
The company forecast current-quarter paid subscribers of 183 million, below expectations of 184 million.
Spotify on Wednesday forecast current quarter subscribers lower than Wall Street expectations, but executives sought to reassure investors that growth had not cratered even as it deals with the fallout from the controversy around The Joe Rogan Experience podcast.
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The company's shares fell as much as 18% in late trading after Spotify reported the subscriber outlook.
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