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# Spotify stock tumbled Tuesday despite strong user growth – NYSE: SPOT
- URL: https://www.hypebot.com/spotify-stock-tumbles-tuesday-despite-strong-user-growth-nyse-spot/
- Published: 2023-07-26T12:25:00.000Z
- Updated: 2023-07-26T12:25:19.000Z
- Description: Spotify [NYSE: SPOT] stock fell 14.26%, closing at $140.38 on Tuesday after the company’s Q2 report to investors.\ Spotify reported impressive growth in both paid and ad-supported users. Monthly active. Continue reading [https://www.hypebot.com/hypebot/2023/07/spotify-stock-tumbles-tuesday-despite-s
- Author: Bruce Houghton
- Tags: Music Business, Streaming, music, music industry, Music Tech, musician, musicians, Spotify, #wp, #wp-post, #Import 2026-01-21 09:44

Spotify \[NYSE: SPOT\] stock fell 14.26%, closing at $140.38 on Tuesday after the company’s Q2 report to investors.\\

Spotify reported impressive growth in both paid and ad-supported users. Monthly active users (MAUs) surged a record 27% to 551 million, up 36 million, and subscribers grew 17% to 220 million, up 10 million.

But that was not enough for Wall Street, who focused on the streamer’s slightly lower-than-expected revenue, weak future guidance, and analyst concerns that a recent price hike could slow future growth,

In pre-market trading Wednesday, Spotify stock was up 2.32%, suggesting that the downward spiral may be over for now,

**Bruce Houghton* is the Founder and Editor of [Hypebot](https://www.hypebot.com/), a Senior Advisor at [Bandsintown](https://www.bandsintown.com/?ref=hypebot.com), President of the[ Skyline Artists Agency](https://skylineonline.com/?ref=hypebot.com), and a [Berklee College Of Music](https://online.berklee.edu/courses/touring-101?ref=hypebot.com) professor.*