Spotify – The Music Hasn’t Stopped
Spotify Technology SA (NYSE:SPOT)’s second quarter revenue rose 23% to €2.3bn compared to last year. That reflects a 17% increase in revenue from premium ad-free accounts, and ad-supported revenues more than doubling. However, monthly active user growth was slower than expected, largely because of Covid disruption, including the pausing of some marketing. A technical issue also impacted MAU growth. Q2 2021 hedge fund letters, conferences and more Operating losses swung from €167m loss to profit of €12m. The group forecasts revenue of €2.31-€2.51bn next quarter. The shares fell 1.6% in pre-mark...