Music Business

Spotify Stock Slips On Q2 Report [NYSE: SPOT]

Spotify stock slipped on Wednesday after a mixed Q2 report to investors.

The streamer reported a Q2 increase in subscribers and users alongside a 21% decrease in ad revenue and 48% jump in operating cost related to stock-related compensation charges.

Right after the earnings report, Spotify stock fell 5% from a Tuesday close of $267.24 to open Wednesday at $254.10.

By days end Wednesday Spotify stock inched back upward to close down 1.766% at $262.21.

In a sign that Thursday may also be a rocky day for Spotify, the stock was down another 1.61% in premarket trading.

MORE: Spotify Users Top 299 Million As Net Loss Jumps

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