Here are a few stocks worth considering from the broader Zacks Business Services sector, as our model shows that these have the right combination of elements to beat on second-quarter 2022 earnings: Spotify has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. But that’s not the case here, as elaborated below. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Our proven model does not conclusively predict an earnings beat for Spotify this time around. It had incurred a loss of 23 cents in the second quarter of 2021. SPOT is expected to have incurred a loss of 68 cents per share in the to-be-reported quarter.
Gross margin is expected to have been lower due to the impacts of increased non-music content spend, investments in music product enhancements and modestly higher other cost of revenues.
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