After spending the last year in a downtrend, Spotify (SPOT) stock showed some life. Shares bounced from the low $420s to close at $519.86. The quarterly results included an optimistic financial projection.
Spotify is projecting streaming platform annual growth rates in the mid-teens through 2030. In that time, gross margin is between 35% to 40%. It is also committed to getting one billion subscribers and $100 billion in revenue by 2030.
Hong Kong-based Lenovo (LNVGY) caught analysts off guard with its strong fourth-quarter results. Revenue grew by 27.1% Y/Y to $21.59 billion. Sales in PC and smart devices grew by 26%. That is the fastest growth in five years. Additionally, markets are treating the stock as an AI play. AI-related revenue jumped by 84%. It accounted for 38% of quarterly revenue.
In the gaming sector, Take-Two Interactive (TTWO) failed to impress shareholders with the GTA VI (Grand Theft Auto) game title release. Set for November 19, markets worry that the firm might miss that date.
In the last quarter, the gaming firm lost $0.32 in EPS. Revenue increased by 6.3% Y/Y to $1.68 billion. For FY 2027, Take-Two expects revenue of $7.9 billion - $8.1 billion. Diluted net income per share will be $0.55 to $0.75. That values TTWO stock at a forward P/E of over 300 times.
