Spotify had its best quarter ever for new additions but revenue fell short of expectations and the music streamer booked a wider loss on severance and other business charges for the three months ended in June.
Shares of the global platform, headquartered in Sweden, are down more than 12%. The latest financials follow news yesterday of price increases.
CEO Daniel Ek and CFO Paul Vogel on a post-earnings call today the full impact of the hikes won’t be evident in numbers until the fourth quarter.
The company is raising the price of its premium subscriptions, bringing the audio streaming service in line with top competitors.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.