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Anusuya Lahiri

Spotify Stock Falls As Q2 Revenue Misses Consensus, MAU Growth Outlook Disappoints

Spotify logo on July 25, 2023, in Colombo, Sri Lanka. SPOT shares traded lower by 6.55% at $153 premarket recently. THILINA KALUTHOTAGE/NURPHOTO VIA GETTY IMAGES.

Spotify Technology SA (NYSE: SPOT) stock traded lower after it reported the second-quarter FY23 revenue growth of 11% year-on-year to €3.18 billion ($3.46 billion), missing the consensus of $3.57 billion. The Premium Revenue grew by 11% Y/Y to €2.77 billion, helped by subscriber additions.

Total MAUs (Monthly Active Users) rose by 27% Y/Y to 551 million. Premium Subscribers grew from 17% Y/Y to 220 million.

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