Spotify Posts 138 Million Paid Subscribers, Big Operating Loss in First Earnings Entirely During Pandemic

Spotify logo is displayed on the screen of a smart phone on Jan. 1, 2020.

Total revenue in the second quarter was €1.89 billion , up 13% year over year but only 2% higher than Q1's €1.85 billion tally. The vast majority of Q2 revenue came from subscriber income, which grew 17% y/y to €1.76 billion , meeting the company's earlier guidance. Due to the effects of COVID-19, ad-supported revenue dropped 21% during the quarter to €131 million — though CEOSpotify's share price fell to 6% $251.03 on Wednesday morning from Thursday's $267.

The firm's net loss also ballooned to €356 million , compared to €76 million in the year-ago period. Spotify's premium average revenue per user was down 7% y/y to €4.41 with the dominant driver being"product mix." Operating expenses totaled €646 million for the quarter, up 48% y/y and well above forecast, the firm said. Spotify currently has 6,049 full time employees globally.

It's not surprising, because KINGS ARE BACK!!!🔥🔥 MTVHottest BTS_twt

JoeBudden JoeBuddenPod thisisrory MAL___ parksmusic looks like they’ve got yall money fellas lol

ok

Yeah.. Because of BTS, we downloaded Spotify 😊

Good. It’s way they deserve for blackballing Nicki Minaj. Onika voodoo bitches

Stream Zayn's second album 😗✌

Spotify for music 👍

ok

ADD SOUL TO YOUR SPOTIFY PLAYLIST NOW!

they should pay their artists more

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Caterpillar posts lower earnings as coronavirus hits equipment salesCaterpillar Inc on Friday reported a smaller-than-expected decline in second-quarter earnings, helped by lower manufacturing costs, even as the pandemic made customers wary of big equipment purchases.
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

U.S. Stock Futures Edge Higher as Tech Stocks RallyShares of Amazon.com, Facebook and Apple gained in offhours trading after the companies’ earnings highlighted the resilience of their operations during the coronavirus pandemic. Well good for them Rich getting richer! Just what we need How in the hell can the market be up, when US economy contracted by 1/3 last quarter and COVID is getting worse. scam
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »

Big Oil Companies Lose Billions, Prepare for Prolonged PandemicAlthough demand and commodity prices have shown signs of recovery, Chevron said they aren’t back to pre-Covid levels, and warned its results could continue to be depressed through the third quarter 😭 This is the time to take as many losses as possible. Throw in conservative guidance and the chances of beating estimates in the future improves.
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »

Spotify Kicks Off an Earnings Season Like No Other: What to Watch for as Music Biz Lays Out Pandemic's ImpactStarting with Spotify on Wednesday (July 29) and ending August 20, the second-quarter financials of 13 publicly traded music-related companies will lay bare the damage done by the coronavirus pandemic. 👀 Spotify kicks off an earnings season like no other: What to watch for as music biz lays out pandemic’s impact
แหล่ง: billboard - 🏆 112. / 63 อ่านเพิ่มเติม »