Music Business

Spotify stock fell 6% Wednesday

Spotify stock closed down 5.74% on Wednesday after the streamer missed monthly user growth projections.

It fell another .9% in after-hours trading. At one point on Wednesday, the stock was down $21.31 or 9.00%

Spotify posted 365 million monthly active users, up 22% year-over-year falling just sort of its guidance of 366 million to 373 million users.

Other numbers including ad revenues were stronger.

MORE: Spotify Q2 2021 report sends mixed signals

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