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.