Spotify Stock Sinks as Streaming Giant's Monthly Active Users Forecast Misses Estimates

3-line summary

• Spotify shares fell 6% after the company forecast Q3 monthly active users of 788 million, below the consensus estimate of 793.5 million, and operating income of about $771 million versus expectations of $784 million, according to the report.
• Q2 revenue rose 14% year-over-year to roughly $5.5 billion, narrowly missing consensus, while total premium subscribers jumped over 8% to 300 million, topping expectations, per the report.

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