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