Spotify Technology Posts Wider Loss In Q2; Total MAUs Up 29% - Quick Facts

(RTTNews) - Spotify Technology S.A. (SPOT) reported that its second quarter net loss to owners of parent was 356 million euros compared to a loss of 76 million euros, previous year. Loss per share was 1.91 euros compared to a loss of 0.42 euros. Operating loss widened to 167 million euros from 3 million euros.

Second quarter total revenue was 1.89 billion euros, an increase of 13% from prior year. Consolidated revenue was roughly in line with expectations, the company said. Premium revenue grew 17% to 1.76 billion euros (up 19% excluding the impact of FX rates). Total monthly active users or MAUs grew 29% year-on-year to 299 million. At the end of the second quarter, the company had 138 million Premium Subscribers globally, up 27% from last year.

For third quarter, the company projects: total MAUs of 312-317 million; total Premium subscribers of 140-144 million; and total revenue of 1.85 billion euros - 2.05 billion euros. Operating loss is projected in a range of 70 million euros- 150 million euros.

For the fourth quarter, the company projects: total MAUs of 328-348 million; total Premium subscribers of 146-153 million; and total revenue 2.05 billion euros - 2.25 billion euros. Operating loss is anticipated in a range of 45 million euros - 145 million euros.