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Spotify ended the second quarter with 83 million premium pay subscribers and approximately 101 million users using the service-funded advertising solution.
180 million of them are monthly users that Spotify has targeted at least 200 million in the year is about.
The number of active users increases by seven million compared to the first quarter and exceeds the expectations of analysts from a user base of 178.5 million.
Since the corresponding quarter of last year, the number of active users of the company increases by 42 million. The company announces to shareholders that in Latin America and in areas defined as "Rest of the World" the company is experiencing growth in.
Exceeds expectations of higher deficits
The increase gives the company a turnover of 1.15 billion euros It sends to the company 90 million euros. Euros less, closer to 860 million, compared with 79 million euros in the same quarter of last year. The deficit includes a cost of 30 million euros related to the listing of the company in April
. Nevertheless, the deficit is lower than analysts had predicted in advance. According to Bloomberg, Spotify is expected to record a loss of about 104.5 million euros
Although the company 's business figure is about 30 million dollars less than Euros to the market estimate of about 1.3 billion euros.
In the first quarter, the company lost 41 million euros, after a turnover of nearly 1.14 billion euros. The company did not meet analysts' expectations after the company's first performance announcement as a listed company.
Resumption of Trading
The presentation of the second quarter results propelled Spotify stock under the auspices of the New York Stock Exchange. When trading was halted on Wednesday, the stock price was closer to $ 187.99.
Shortly after the results were presented Thursday, just half an hour before the opening of the market, the stock price dropped by 3.85 percent to $ 180.75.
At the opening of the market at. However, at 15:30 Norwegian time, the price of the action had been reversed. At 15.33 the stock had risen to $ 194.08, according to Marketwatch. An increase of almost 2.93%.
We expect an improvement in the third quarter
The company says it expects additional growth in the third quarter of the year. Spotify follows a number of active users between 188-193 million. At least 85 million of them think the company will pay subscribers.
The company estimates the turnover at between 1.2 and 1.4 million euros in the third quarter. This includes an economic impact of nearly 30 million euros due to exchange rates.
According to the company, the deficit would rise between 10 and 90 million euros in the third quarter of the year.
In the fourth and final quarter millions of active users, of which at least 93 million are premium subscribers. The turnover should be between 1.35 and 1.55 million euros, with a loss of between 20 and 100 million euros. (Terms)
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