Spotify Technology Turns To Profit In Q2, Total Revenue Up 20%; Issues Q3 Guidance

(RTTNews) - Spotify Technology S.A. (SPOT) reported second quarter net income attributable to owners of the parent of 274 million euros compared to a loss of 302 million euros, last year. Profit per share was 1.33 euros compared to a loss of 1.55 euros.

Revenue was 3.81 billion euros, up 20% from a year ago, or up 21% in constant currency. Premium revenue grew 21% to 3.35 billion euros. Premium Subscribers grew 12% to 246 million. Monthly Active Users, or MAUs grew 14% to 626 million.

For the third-quarter, the company expects: total revenue of 4.0 billion euros; and total Premium Subscribers of 251 million.

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