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Spotify falls on second quarter earnings miss
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Adjusted earnings per share came in at €2.61, missing the consensus estimate of €2.76.
Revenue reached €4.78 billion, slightly below the analyst estimate of €4.79 billion, representing 14% growth YoY or 15% on a constant currency basis.
The streaming company's premium subscribers reached 300 million during the quarter, adding 7 million net subscribers and exceeding its guidance of 6 million.
For the third quarter, Spotify issued revenue guidance of €5 billion, above the analyst consensus of €4.93 billion.
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