Spotify tops 300 million premium subscribers, swings to Q2 profit

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1. 1Spotify (SPOT) surpassed 300 million premium subscribers in the second quarter and swung to a net profit
2. 2Revenue rose 14% to €4.78 billion, while net profit came in at €545 million, reversing a €86 million loss in the year-ago period
3. 3Q3 revenue guidance of €5 billion came in above expectations, but a gross margin cut to 32.9% signals slowing profit growth

Source The Wall Street Journal +4 · View original ↗

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