Reported about 22 hours ago
Spotify's stock fell nearly 12% following a disappointing second quarter, where it reported a loss, missed revenue expectations, and provided a weaker forecast for the current quarter. Despite a previous 120% surge in stock prices over the past year, the company's quarterly revenue of €4.19 billion fell short of expectations, with an adjusted loss per share of €0.42. CEO Daniel Ek acknowledged challenges but maintained optimism for long-term growth, highlighting strong user gains and reiterating a commitment to creating value over short-term results.
Source: YAHOO