Spotify Know-how S.A. SPOT will report first-quarter 2024 results on Apr 23, earlier than the bell.
The corporate’s earnings shock historical past has not been spectacular. Earnings lagged the Zacks Consensus Estimate in three of the 4 trailing quarters and surpassed as soon as, the typical adverse shock being 62.5%.
Spotify Know-how Value and EPS Shock
Spotify Technology price-eps-surprise | Spotify Know-how Quote
Q1 Expectations
The Zacks Consensus Estimate for revenues within the to-be-reported quarter is pegged at $3.88 billion, indicating year-over-year progress of 18.9%. The expansion of subscribers, month-to-month lively customers and common income per person is more likely to have benefited the highest line.
The consensus mark for earnings stands at 66 cents per share, indicating a major enchancment from a lack of $1.24 per share incurred within the year-ago quarter. We count on a powerful margin efficiency from the podcast enterprise within the quarter.
What Our Mannequin Says
Our confirmed mannequin doesn’t conclusively predict an earnings beat for Spotify this time round. The mix of a constructive Earnings ESP and a Zacks Rank #1 (Robust Purchase), 2 (Purchase) or 3 (Maintain) will increase the percentages of an earnings beat. However that’s not the case right here. You may uncover the very best shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.
Spotify has an Earnings ESP of -35.48% and a Zacks Rank #3.
Shares That Warrant a Look
Listed below are just a few shares from the broader Business services sector, which, in response to our mannequin, have the proper mixture of components to beat on earnings this season.
WEX WEX: The Zacks Consensus Estimate for the corporate’s first-quarter 2024 revenues is pegged at $653.6 million, indicating year-over-year progress of 6.8%. For earnings, the consensus mark is pegged at $3.5 per share, suggesting a 4.2% rise from the year-ago quarter’s precise. It beat the consensus estimate up to now 4 quarters, with a mean shock of 4.3%.
WEX presently has an Earnings ESP of +1.34% and a Zacks Rank of three. The corporate is scheduled to declare its first-quarter outcomes on Apr 25. You may see the complete list of today’s Zacks #1 Rank stocks here.
Trane Applied sciences TT: The Zacks Consensus Estimate for the corporate’s first-quarter 2024 revenues is pegged at $4 billion, indicating year-over-year progress of 8.8%. For earnings, the consensus mark is pegged at $1.6 per share, suggesting a 16.3% rise from the year-ago quarter’s precise. The corporate beat the consensus estimate up to now 4 quarters, with a mean shock of 4.5%.
TT presently has an Earnings ESP of +1.01% and a Zacks Rank of three. The corporate is scheduled to declare its first-quarter outcomes on Apr 30.
Keep on high of upcoming earnings bulletins with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
