Spotify stock plummets after earnings beat expectations as guidance disappoints

Shares of Swedish audio-streamer Spotify fell 9% in premarket trading after soft guidance overshadowed an earnings beat. The New York-listed stock fell as much as 12% following earnings before the bell before paring some of the losses. First-quarter revenue rose 8% from last year to 4.5 billion euros ($5.3 billion), while monthly active users (MAUs) rose 12% year-on-year to 761 million, both slightly above FactSet estimates. …