Spotify CEO Ek says he's 'unhappy' with ads business as stock falls 11% on weak guidance
Spotify shares dropped more than 11% Tuesday after the music streaming service fell short of Wall Street's expectations and posted weak guidance for the current quarter. Shares headed for their worst session since July 2023. Here's how the company did versus LSEG estimates: Loss: Loss of .42 euros vs earnings of 1.90 euros per share expected Loss of .42 euros vs earnings of 1.90 euros per share expected Revenue: 4.19 billion euros vs. 4.26 billion expected The Swedish platform's revenues ro