Todd Spangler NY Digital EditorSpotify’s user and subscriber growth came in at the top end of expectations, but the company’s bottom line was hit by a 48% increase in operating costs from stock-related compensation charges.
In addition, ad revenue fell 21% — which Spotify blamed on the coronavirus pandemic — but the drop wasn’t quite as bad as forecast.Total monthly active users grew 29%, to 299 million, and Spotify Premium subscribers globally grew 27%, to 138 million.
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