Spotify Premium Revenue Misses Expectations; Stock Falls

(Bloomberg) — Spotify Technology SA fell as much as 8.6% after its premium revenue fell short of analysts’ expectations even as subscriptions rose, with consumers in some markets resisting the company’s price increases.The world’s largest streaming audio service said Thursday that premium revenue, generated by its paid subscriptions, was 1.79 billion euros ($2.1 billion) in the third quarter. Analysts expected 1.83 billion euros, according to a consensus compiled by Bloomberg.Spotify shares were down 7.5% to $255.38 at 9:41 a.m. in New York. They had climbed 85% this year through Wednesday’s close, driven in part by the Swedish company’s push into …read more

Source:: Yahoo Finance


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