Spotify reports bigger-than-expected loss, paid subscribers disappoint
) reported better-than-expected second-quarter revenue on Wednesday, but added fewer paid subscribers than estimated, sending its shares down 2.2% in trading before the bell.
Revenue from premium subscribers, which accounted for nearly 90% of its overall revenue, rose to 1.50 billion euros in the second quarter. However, it still faces competition from Apple Inc , which is trailing behind Spotify with more than 60 million subscribers as of June.
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