Spotify (NYSE: SPOT) beat expectations with its fourth quarter results for listeners, subscribers, and earnings. Still, investors sent the share price lower following the report on management’s weak outlook for 2021.
The company expects to generate 2.09 billion euros at the midpoint of its outlook for the first quarter of 2021 and 9.21 billion euros for the full year. Both are below analyst expectations by around 5%. But investors, especially long-term investors, shouldn’t worry about the weak outlook for the high-flying media stock.