异动解读 | Spotify股价盘中大跌5.18%,尽管Q3业绩及Q4指引超预期

异动解读
Nov 04, 2025

11月4日周二,音乐流媒体巨头Spotify(SPOT)股价在盘中大跌5.18%,令投资者感到意外。这一跌幅出现在公司发布了超出预期的第三季度财报及乐观的第四季度业绩指引之后。

根据公司公布的财报,Spotify第三季度营收达42.7亿欧元,高于市场预期的42.3亿欧元。月活跃用户数增至7.13亿,付费订阅用户达2.81亿,均略高于分析师预估。公司还预计第四季度月活跃用户将达到7.45亿,高于市场预期的7.4031亿。此外,Spotify上调了第四季度毛利率预期至32.9%,高于此前市场预估的32.5%。

尽管业绩表现亮眼,Spotify股价仍出现大幅下跌。分析人士指出,这可能反映了投资者对科技股高估值的担忧。华尔街顶级银行高管近期警告称,股市可能面临10%左右的回调。在此背景下,即便公司基本面良好,投资者也可能选择获利了结。此外,整体市场情绪低迷,纳斯达克指数期货当日下跌超过1%,也可能对Spotify股价造成拖累。

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