Spotify shares dropped by 10% in premarket trading after missing Q2 earnings and revenue expectations. Revenue was €4.19 billion, below the expected €4.27 billion. The company reported an adjusted loss of €0.42 per share, missing forecasts for a profit of €1.97. Spotify’s Q2 monthly active users reached 696 million, beating estimates. Premium subscribers grew by 12% to 276 million.

Despite the earnings miss, Spotify remains optimistic about growth and margins in 2025. The company experienced a significant rally following business overhauls and a push for profitability. Spotify raised prices twice in less than a year and introduced higher-priced audio bundles, including audiobooks, to cater to diverse consumer preferences.

Read more at Yahoo Finance: Spotify stock falls after Q2 earnings and revenue miss, snapping back from record highs