Latest news with #490
Yahoo
a day ago
- Business
- Yahoo
Why Spotify's Latest Results Look Worse Than They Are
Spotify Technology (NYSE:SPOT) saw its stock drop sharply on Tuesday after it released its second-quarter 2025 results. Despite strong user growth, the company missed earnings and revenue expectations and issued a cautious forecast, which shook investor confidence. Wall Street analysts rerated the stock after the quarterly results. JP Morgan analyst Doug Anmuth reiterated an Overweight rating on Spotify, suggesting continued confidence in the company's long-term prospects despite the near-term headwinds. Similarly, Goldman Sachs analyst Eric Sheridan maintained a Buy rating, underscoring his positive outlook with a reaffirmed price forecast of $ these endorsements from analysts indicate underlying belief in Spotify's business model, the immediate market reaction highlights the Street's sensitivity to financial performance deviations. JP Morgan's Perspective Anmuth noted Spotify is executing well on its medium-term financial targets of achieving 30-40% gross margins and 10%+ operating margin. The analyst credited product optimizations and effective marketing for driving solid growth in both users and premium subscribers, while Spotify continues to invest in its core offerings, including audiobooks, video podcasts, and music. However, second-quarter results and third-quarter guidance were mixed, he noted. Spotify delivered stronger-than-expected MAUs and premium subscriber growth, but foreign exchange (FX) headwinds and social charges weighed on revenue, gross margin, and operating income, Anmuth said. The analyst said the company posted a second-quarter gross margin of 31.5%, which was in line with both guidance and consensus. But he noted that its third-quarter gross margin forecast of 31.1% came in slightly below JPMorgan's 31.3% estimate, factoring in a ~40bps regulatory charge. Spotify guided for third-quarter FX-neutral revenue growth of 10%, signaling a ~500bps deceleration, though that figure may not reflect potential price increases, Anmuth noted. Notably, Spotify doubled its share buyback authorization to $2 billion. He will watch to see whether this marks a shift toward more consistent capital returns or remains opportunistic. In the second quarter, Spotify generated 700 million euros in free cash flow, beating JPMorgan's 641 million euros estimate, and delivered operating income of 406 million euros. This included 116 million euros in social charges but still fell short of management's 539 million euros forecast. JPMorgan and consensus estimates stood at 457 million euros and 490 million euros, respectively. On the user side, Spotify added 18 million MAUs in the second quarter, bringing the total to 696 million, above the 689 million guidance. Strong marketing campaigns and favorable competitive dynamics supported this growth across all regions. Premium subscribers rose to 276 million, 8 million net additions, beating the company's guidance of 273 million. Revenue for the quarter came in at 4.19 billion euros, up 15% FX-neutral year-over-year, but below both management's guidance of 4.3 billion euros and JPMorgan's 4.27 billion euros estimate. FX headwinds were much stronger than expected, around 440bps compared to the 170bps the company had projected. Premium revenue grew 16% FX-neutral, driven by a 12% increase in subscribers and a 3% rise in ARPU. Advertising revenue increased 5% FX-neutral, slightly below the 6% JPMorgan had expected. Spotify guided for third-quarter MAUs of 710 million and premium subscribers of 281 million, ahead of JPMorgan and consensus estimates. However, revenue guidance of 4.2 billion euros fell short of the 4.5 billion euros estimate, again reflecting significant FX pressure (~490bps) and indicating another ~500bps slowdown in FX-neutral revenue growth. Spotify expects a third-quarter gross margin of 31.1% and operating income of 485 million euros, below JPMorgan's forecasts of 31.3% and 524 million euros, respectively. The outlook embeds another 25 million euros of headwind from social charges. Overall, while user growth remains a strength, Anmuth closely watched for improvements in revenue momentum, cost structure, and long-term margin execution. Goldman Sachs' Take Sheridan expects a mixed to slightly negative market reaction to Spotify's second-quarter 2025 results. The analyst noted that the company reported revenue and operating profit below its prior guidance, while gross margin landed in line with expectations. He attributed the shortfall to an unfavorable revenue mix, higher-than-expected FX headwinds, and elevated social charges, driven in part by stock price appreciation. Despite these headwinds, Spotify continued to show strong user growth, signaling that external factors had more impact than weak business fundamentals, Sheridan noted. The analyst noted that this quarter's results reflect a continuation of Spotify's 2025 strategy, prioritizing long-term growth investments over margin expansion after a strong margin performance in 2024. He also highlighted Spotify's newly authorized $1 billion share buyback, on top of the remaining $896 million from a previous program. On the earnings call, Sheridan will watch for clarity on pricing strategy, gross margin outlook, and Spotify's ability to balance growth investments with operating efficiency. Price Action: SPOT stock is trading lower by 11.6% to $619.96 at last check Tuesday. Photo via Shutterstock Latest Ratings for SPOT Date Firm Action From To Mar 2022 Deutsche Bank Initiates Coverage On Hold Feb 2022 B of A Securities Maintains Buy Feb 2022 Wells Fargo Maintains Underweight View More Analyst Ratings for SPOT View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Why Spotify's Latest Results Look Worse Than They Are originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
5 days ago
- Business
- Time of India
HAM (S): Oppn baffled by high growth rate of Bihar
Patna: Hindustani Awam Morcha (S) has flayed the opposition for attacking the NDA govt in Bihar on the development front. As the opposition alleges financial irregularities pointed out in the Comptroller and Auditor General (CAG) report, HAMS (S) national president and minister Santosh Suman on Friday said they were baffled by the high growth rate of Bihar under the good governance of the NDA govt. "The opposition allegations are baseless as they cannot see Bihar's GSDP increase by more than 10 times in the last two decades," Suman said. According to the CAG report tabled in the legislative assembly on Thursday, the state's GSDP in FY 2023-24 grew at 14.47% over the previous year and the revenue expenditure increased by 3.55% whereas its revenue receipts increased by 11.96% over the previous year. But the CAG report also pointed out that the state govt did not submit utilisation certificates of funds amounting to Rs70,877 crore. "The high pendency of utilisation certificates is fraught with the risk of embezzlement, misappropriation and diversion of funds," the CAG report said. CPI(ML) politburo member Dhirendra Jha said the CAG report has exposed the functioning of the state govt and its so-called development model. "The CAG findings are shocking and bring out a grim picture of institutional corruption, administrative failure and economic mismanagement in the state," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She's 75 and Retiring - Her Handcrafted Jewelry Is 80% OFF Artisan Weekly Read More Undo The report also highlighted delays in the submission of detailed contingent (DC) bills, which are required to account for funds drawn using abstract contingent (AC) bills. As on March 2024, DC bills worth Rs 9,205 crore were pending against Rs22,130 AC bills. "Non-submission of DC bills within the prescribed period breaches financial discipline and enhances the risk of misappropriation of public money," the CAG report said. However, the minor water resources department minister said Bihar registered a growth rate of 14.47% in 2023-24, which was 4.87% more than the national average. "Bihar, which is running at a fast pace on the track of development, has consistently maintained its double digits growth, except for the Corona period," Suman said. He said Bihar's growth rate in 2022-23 was 15.30%. Citing the CAG report, he said all the allegations of the opposition regarding Bihar's backwardness have been proved baseless. Suman said the opposition should now stop misleading the people with their false propaganda and accept the ground reality. "Before 2005, Bihar's GSDP was only Rs82,490 crore, which has now increased to Rs8.54 lakh crore. The more than 10-fold increase in our GSDP in the last two decades has been possible only due to the good governance of the NDA govt and the ban on corruption and loot in the state. This is real development!" he claimed.
Hindustan Times
21-07-2025
- Automotive
- Hindustan Times
Kia Carens Clavis EV bookings to commence on July 22 at ₹25,000. Check details
The Kia Carens Clavis EV gets two battery pack options - 42 kWh and 51.4 kWh - with a maximum range of 490 km on a full charge Check Offers The bookings for the Kia Carens Clavis EV are set to commence from July 22, 2025 at ₹ 25,000. The Kia Carens Clavis EV comes as an all-electric version of the internal combustion engine-propelled Carens Clavis. Available in four trims: HTK+, HTX, ER HTX, and ER HTX+, the Carens Clavis EV is priced between ₹ 17.99 lakh and ₹ 24.49 lakh (ex-showroom). Kia Carens Clavis EV: Specs The Clavis EV offers two battery pack options to suit different user needs. The lower-end models are fitted with a 42kWh lithium-ion battery, providing a certified driving range of 404 km. This model is coupled with an electric motor rated at 132 bhp and 255 Nm of torque. In contrast, the extended-range (ER) models have a 51.4kWh battery pack, boosting the claimed range to 490 km. This larger unit is paired with a more powerful 169 bhp motor, although peak torque remains identical at 255 Nm. Both configurations offer four regenerative braking levels, including the convenience-focused i-Pedal mode that enables one-pedal driving. Regenerative braking can also be adjusted via paddle shifters for a more customised experience. Also Read : Kia Carens Clavis EV launched with 490 km range, prices start at ₹ 17.99 lakh Kia Carens Clavis EV: Design The design language is the same as the ICE Carens Clavis except for electric-specific modifications. The charging port is integrated into the closed grille, while the LED DRLs traverse the width of the front profile. The rest of the design is most probably going to be the same to provide maximum space in the cabin. The model receives new 17-inch aero alloy wheels that provide the electric Carens Clavis with a different look. The model also features an underbody cover, but ground clearance is 5 mm higher than its ICE counterpart, at 200 mm. Also Read : Looking to buy the Kia Carens Clavis EV? Here's what each of the variants has to offer Kia Carens Clavis EV: Features The Kia Carens Clavis EV is the most affordable three-row electric to hit the Indian market. Kia has freed up space by relocating the gear shifter to the steering column, rather than a traditional shifter. The electric MPV features a 26.6-inch panoramic screen made up of two screens for the digital console and infotainment system. The model is equipped with more than 90 linked features, in addition to inheriting features such as Level 2 ADAS, wireless charging, a panoramic sunroof, ambient lighting, a one-touch tumble-down second row seat, ventilated front seats, an electrically adjustable driver's seat, ambient lighting, an air purifier, and many others. Check out Upcoming EV Cars in India, Upcoming EV Bikes in India. First Published Date: 21 Jul 2025, 17:03 pm IST
Winnipeg Free Press
20-07-2025
- Sport
- Winnipeg Free Press
Blue Jays take on the Giants after Barger's 4-hit game
San Francisco Giants (52-47, third in the NL West) vs. Toronto Blue Jays (57-41, first in the AL East) Toronto; Sunday, 12:05 p.m. EDT PITCHING PROBABLES: Giants: Robbie Ray (9-3, 2.65 ERA, 1.08 WHIP, 128 strikeouts); Blue Jays: Jose Berrios (5-4, 3.75 ERA, 1.24 WHIP, 97 strikeouts) BETMGM SPORTSBOOK LINE: Blue Jays -110, Giants -109; over/under is 8 runs BOTTOM LINE: The Toronto Blue Jays play the San Francisco Giants after Addison Barger had four hits against the Giants on Saturday. Toronto is 34-16 at home and 57-41 overall. The Blue Jays have the ninth-ranked team slugging percentage in the AL at .406. San Francisco has a 52-47 record overall and a 24-27 record on the road. The Giants have the best team ERA in the NL at 3.56. Sunday's game is the third time these teams match up this season. TOP PERFORMERS: George Springer leads the Blue Jays with 16 home runs while slugging .490. Bo Bichette is 14 for 39 with five doubles, a home run and three RBIs over the last 10 games. Rafael Devers has 24 doubles, 17 home runs and 68 RBIs for the Giants. Willy Adames is 10 for 37 with a double, a triple, four home runs and 12 RBIs over the last 10 games. LAST 10 GAMES: Blue Jays: 7-3, .285 batting average, 2.83 ERA, outscored opponents by 14 runs Giants: 5-5, .217 batting average, 4.10 ERA, outscored by 11 runs INJURIES: Blue Jays: Ryan Burr: 60-Day IL (shoulder), Nick Sandlin: 15-Day IL (elbow), Andres Gimenez: 10-Day IL (ankle), Yimi Garcia: 15-Day IL (ankle), Anthony Santander: 60-Day IL (shoulder), Paxton Schultz: 15-Day IL (middle finger), Bowden Francis: 15-Day IL (shoulder), Daulton Varsho: 10-Day IL (hamstring), Alek Manoah: 60-Day IL (elbow), Angel Bastardo: 60-Day IL (elbow) Giants: Erik Miller: 15-Day IL (elbow), Christian Koss: 10-Day IL (hamstring), Jerar Encarnacion: 10-Day IL (oblique), Tom Murphy: 60-Day IL (back) ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar.
The Citizen
30-05-2025
- Sport
- The Citizen
Young Dundee High hockey star is looking for sponsorship to represent South Africa in the Netherlands
Young Dundee High hockey star is looking for sponsorship to represent South Africa in the Netherlands Local hockey star Celiwe Zibula is calling on the community for support as she prepares to take her passion for the sport to the international stage. The Dundee High School learner is one of only 13 players selected to represent South Africa in the Netherlands from October 5 to 13, an opportunity she describes as a dream come true. 'I'm incredibly excited to share this journey and represent my community with pride,' said the dedicated athlete. 'Hockey has always been my passion and this tour is a chance to grow, learn and compete at a high level.' Zibula is appealing to individuals, businesses and organisations for sponsorship to help cover the cost of the tour, which totals R67,490 (excluding visa fees). Anyone interested in sponsoring Zibula can contribute to: account number – 62406256174; bank – FNB; account type – cheque. For more information or to offer support, Zibula can be contacted directly on 078 510 4826. HAVE YOUR SAY: Like our Facebook page, follow us on Twitter and Instagram or email us at Add us on WhatsApp 071 277 1394. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
