Spotify Hits 299 Million Active Users in Q2

Spotify’s user and subscriber growth came in at the top end of expectations for the second quarter of 2020, but the company’s bottom line was hit by a 48% increase in operating costs from stock-related compensation charges. In addition, ad revenue fell 21% — which Spotify blamed on the coronavirus pandemic — but the drop wasn’t quite as bad as forecast.

Source: Spotify Hits 299 Million Active Users in Q2, Net Loss Balloons on Stock-Related Costs

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