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Spotify (SPOT), Electronic Arts (EA), Mexican Grill (CMG) Fell After Quarterly Results

Spotify Technology S.A. (SPOT) to end the trading session on Wednesday at $317.25 was down -8.06 percent. An outlook for sales and paid users for the quarter was too light, Spotify reported. Revenues grew by 17 percent year-on-year to cross EUR 2.17 billion in the fourth quarter alone, relative to a forecast of EUR 2.15 billion. According to the firm, the cumulative number of monthly active users grew by 27 percent to 345 million.

The net loss per share was 125 ME, or 66 cents (51 cents consensus FactSet). Spotify only expects sales ranging from EUR 1.99 billion to EUR 2.19 billion for the first quarter, compared with a forecast of EUR 2.2 billion. In the first quarter, the company plans to have a record of 155 million paid members.


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Electronic Arts Inc. (EA) fell -5.47% to $140.82. Compared to a forecast of $2.94 and an EPS of $2.79 for the same time last year, EA posted adjusted earnings per share of $3.09 for the third fiscal quarter. In the quarter ended December 2020, the U.S. video game publisher created $2.4 billion in booking sales, 1 percent above consensus. Compared to $1.59 billion a year ago, quarterly sales were $1.67 billion.

Compared to $346 million and $1.18 per share a year ago, adjusted net income was $211 million and 72 cents per share. According to FactSet, the net consensus EPS was 77 cents. The company expects a loss per share of 7 cents and sales of $1.32 billion for the fiscal fourth quarter. The annual EPS, with sales of $5.6 billion, is forecast to grow to $2.54.

Chipotle Mexican Grill, Inc. (CMG) dropped to $1499.99, down -1.51 percent in the Wednesday session. The U.S. restaurant chain, owing to increased expense created by the health crisis, reported poor accounts, posting a lower-than-expected quarterly profit.

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