Spotify stock plunges as forecast for streaming subscribers comes in low amid controversy
Amid controversy, Spotify Technology SA said Wednesday it expects fewer subscriber additions in the first quarter than Wall Street expected, and shares plunged in late trading.
Spotify SPOT, -5.75% announced a fourth-quarter loss of 39 million euros ($44.1 million), or 21 cents a share, an improvement from a loss of 66 cents a share in the holiday quarter a year ago. Revenue rose to 2.69 billion euros from 2.17 billion last year, topping $3 billion for the first time and beating analysts’ expectations, thanks to a subscriber total that grew 16% in the final three months of the year to 180 million.
Analysts on average expected a loss of 51 cents a share on sales of 2.65 billion euros and total premium subscribers of 180 million, according to FactSet. While those numbers were not incredibly off from expectations, executives’ forecast was not warmly received. They guided for 1 million fewer net subscriber additions in the first half than analysts expected, and did not provide an annual forecast as they have in the past.
Spotify shares dove more than 18% in after-hours trading immediately following the release of the report Wednesday, after closing with a 6.2% decline at $190.93 in the regular session.
https://www.marketwatch.com/story/spotify-stock-plunges-as-forecast-for-streaming-subscribers-comes-in-low-amid-controversy-11643836893
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that $100 million contract you just signed him to. 
Hang tight, Pandora. You can probably pick up an acquisition soon at cut-rate prices.
