Stock market today: Dow, S&P 500, Nasdaq futures waver amid rush of earnings and hopes for auto tariff relief

Yahoo Finance’s Alexandra Canal reports:

Spotify (SPOT) reported mixed first-quarter earnings and disappointing guidance on Tuesday, sending shares down over 8% in early premarket trading.

The company guided to second quarter monthly active users (MAUs) of 689 million, below the roughly 694 million analysts polled by Bloomberg had expected. Q2 guidance for operating income and gross margins also fell short of expectations.

For the first quarter, MAUs rose 10% year over year to 678 million, a slight miss compared to the 679 million estimate. Premium subscribers rose 12% over the prior year to 268 million, the second-highest Q1 subscriber net addition in the company’s history.

“The underlying data at the moment is very healthy: engagement remains high, retention is strong, and thanks to our freemium model, people have the flexibility to stay with us even when things feel more uncertain,” Spotify CEO Daniel Ek said in the earnings release.

“So yes, the short term may bring some noise, but we remain confident in the long-term story, and the direction we’re heading in feels clearer than ever.”