Overview
- Spotify swung to a second-quarter net loss of €86 million, compared with a €274 million profit a year earlier as operating expenses climbed.
- Revenue rose 10 percent to €4.19 billion but fell short of analyst estimates amid unfavorable currency movements.
- Premium subscribers reached 276 million and monthly active users hit 696 million, both topping Wall Street forecasts.
- Third-quarter guidance forecasts €485 million in operating income, 710 million MAUs and 281 million premium subscribers, all below consensus.
- The board has expanded its share repurchase authorization to $2 billion to balance capital returns with ongoing growth investments.