Spotify Forecasts Lower Second-Quarter Earnings Due to Increased Spending and Slower Growth in Key Markets
Spotify reported lower-than-expected second-quarter earnings due to increased spending on marketing and AI features, as well as slower growth in Europe and North America. The company's shares fell 11% following the announcement. Spotify expects operating income of 630 million euros, below analyst estimates.
Tickers: $SPOT
Topics: AI Features Market Growth Marketing Spend Profit Outlook Spotify Stock Price Movement