Spotify's Q2 earnings showed monthly active users reaching 696 million, an 11% increase, with premium subscribers up 12% to 276 million. Total revenue rose to €4.19 billion, a 10% increase, but fell short of guidance due to currency issues. The company reported a net loss of 86 million euros linked to rising personnel and marketing expenses. CEO Daniel Ek noted the underperformance of the advertising business as a significant weakness. Gross margins declined slightly, with expectations of further slippage in Q3, disappointing investors despite year-over-year revenue gains.
Monthly active users (MAUs) reached 696 million, an 11% year-over-year increase, exceeding forecasts. Premium subscribers also grew by 12% to 276 million, also surpassing expectations.
Total revenue reached €4.19 billion ($4.85 billion), a 10% year-over-year increase. However, this fell short of the €4.3 billion guidance due to currency headwinds.
Spotify reported a net loss of 86 million euros, attributed to higher personnel and marketing costs. The advertising business underperformed, with CEO Daniel Ek acknowledging it as a weak spot.
Gross margins saw a slight decline, and Spotify expects further slippage in the third quarter, contributing to investor disappointment despite increased revenue.
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