Spotify, the world’s largest music streaming platform by number of subscribers, reported record user growth in its second quarter ended June 30, 2023, but its stock fell by more than 10%.
The company delivered a 27% year-over-year increase in monthly active users (MAUs) to 551 million, an 11% year-over-year increase in revenue to €3.18 billion, but a net loss of €302 million compared with a net loss of €125 million in the year-ago period.
