4-30-19 (SPOT) is trading modestly lower despite reporting better than expected first-quarter results. Spotify trading lower despite mostly upside first quarter results (SPOT). Spotify (SPOT) is trading modestly lower despite reporting better than expected first-quarter results. First quarter operating loss, premium subs, and gross margin came in better than the company's outlook monthly active users (MAU) were near the midpoint of guidance. Earnings per share missed estimates, but investors are better ...