Finance Forex

Spotify CEO Daniel Ek Tells Cramer What’s Behind Company’s Podcast Acquisitions

Spotify CEO Daniel Ek Tells Cramer What’s Behind Company’s Podcast Acquisitions blogpost is one concerning those Finance, Forex lists, written at our author Erick Emerson just after February 6, 2019, this paper can search over that hastag Acquisitions, CEO, companys, Cramer, Daniel, Ek, Podcast, Spotify, tells, whats. We all joyful to blissful you as well as providing that others paper concerning finance as well I am always updating that paper daily.

TheStreet’s Jim Cramer, an avid user of Spotify Technology S.A. (SPOT) , spoke with company founder and CEO Daniel Ek Wednesday about the music streaming service’s latest quarterly report and its announcement that it is acquiring two podcast companies, Gimlet Media Inc. and Anchor, for an unspecified amount of money.

Ek said that Spotify has become the second largest podcast platform in just two years and that it would continue to invest in the space.  

“It is really about expanding our mission from just being about music to being about all of audio and being the world’s leading audio platform,” Ek told Cramer on CNBC’s Squawk on the Street on Wednesday. “And what we are seeing is…our users [that] are listening to podcasts are listening to the platform almost twice as much.”

Ek said Spotify would be ramping up its spending on original content in general in order to increase engagement, and was asked about the impact of such spending on profit margins, which the company has previously said would eventually get into the 30% to 35% range.  

“We’re staying steady with our long-term margin goal,” Ek said. “We never said that it would be a linear path to get there. But I think looking at it in our fourth quarter results you can see that the margin is going up.”

The company’s fourth quarter earnings results on Wednesday morning weren’t met with much optimism overall, however, sending Spotify’s stock down roughly 4%.

Spotify was profitable in the fourth quarter with operating income, net income and free cash flow being positive for the first time in the company’s history. The company reported earnings of €442 million euro ($503.4 million), €0.36 a share, which topped analysts’ estimates of a loss of €0.16 a share.

The bad news, however, was that while revenue jumped 30% to €1.495 billion, Wall Street was looking for revenue of €1.501 billion.

You might want to discover other post finance much as our related paper or you probably want to check it just as noted chapter, I am always updating these finance post frequenlty for cue together with clue also gift so manage our finance along with living this financial freedom. This essay is published with Erick Emerson with this title Spotify CEO Daniel Ek Tells Cramer What’s Behind Company’s Podcast Acquisitions.

Related posts of "Spotify CEO Daniel Ek Tells Cramer What’s Behind Company’s Podcast Acquisitions"

Bitcoin prices steady but can’t breach $3,500 mark

Bitcoin prices were mostly unchanged on Tuesday, stuck in a tight trading range below $3,500. In afternoon trading, a single bitcoin BTCUSD, +0.05%  was fetching $3,453.77, up 0.2% since...

Nikkei flat, Australian stocks surge as central bank stays pat

Shares were lower in most markets open in Asia, with much of the region taking a break for the Lunar New Year. Shares edged lower in Japan on Tuesday but surged 2.1% in Australia following a report on banking malpractices that was less severe than anticipated. The country’s central bank also kept its cash rate...

Capri Holdings Stock Climbs on Q3 Earnings Report

Capri Holdings Limited (CPRI) climbed 9.35% to $47.62 in pre-market trading Wednesday after the apparel company beat Wall Street's third-quarter earnings expectations. The London-based company earned $199.6 million, or $1.33 a share, down from $219.4 million, or $1.42 a share, a year ago. Adjusted earnings were $1.76 a share, beating analysts' expectations of $1.57 a... Crashes 50% Midday After Post Office Breakup By

© Reuters. - Internet-based shipping company (NASDAQ:) plummeted 56% in midday trading on Friday after it ended its exclusive relationship with the United States Postal Service. With customers expecting same-day and two-day shipping regularly now, the company said that it needs to work with other competitors and it's ending its USPS arrangement of...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.